CNN, NBC to lay off employees amid digital shift
What's the story
Cable News Network (CNN) will lay off hundreds of its employees today, CNBC reported. The decision comes as part of the network's strategy to refocus its operations toward a global digital audience. The layoffs are part of a broader plan by CNN to restructure its linear TV lineup and expand into digital subscription products.
Cost reduction
CNN's restructuring aims to reduce production costs
The restructuring is expected to help CNN reduce production costs and streamline teams. As part of this plan, the network will shift production of certain shows from New York or Washington to Atlanta. The move is designed to further cut costs. Currently, CNN employs around 3,500 people worldwide.
Layoffs
NBC News also plans job cuts this week
NBC News, a Comcast-owned company, is also planning to lay off employees later this week. The exact number of layoffs at NBC has not been disclosed but is expected to be fewer than 50. The layoffs at CNN and NBC come as the US media landscape is witnessing a major shift. More people are now consuming news through streaming services and social media, instead of traditional linear TV.
Workforce reduction
Other major US news organizations face job cuts
The Associated Press had announced in November that it would cut its workforce by 8%. Similarly, Jeff Bezos-owned The Washington Post revealed early January plans to cut 4% of its workforce (fewer than 100 employees) amid rising losses. These developments further underscore the challenges traditional news organizations continue to face in the digital age.