Connect with us

Hi, what are you looking for?

Tech News

CNN announces more layoffs as it preps for a future beyond cable TV

CNN Reboots Streaming Efforts With Max Service
CNN’s first subscription offering will arrive later this year. | Photo by Jaap Arriens / NurPhoto via Getty Images

CNN is cutting jobs and restructuring its news operations as part of ongoing efforts by the company to boost its digital offerings and be less dependent on its cable news channel.

The changes, as reported by The Hollywood Reporter from a memo sent to staff on Wednesday by CNN CEO Mark Thompson, include layoffs of “around a hundred” staffers, representing less than 3 percent of the company’s workforce of more than 3,500 employees. The cuts follow layoffs in 2022, including jobs lost when the network’s streaming service, CNN Plus, was shut down less than a month after launching.

Today’s memo also outlined Thompson’s plans to merge CNN’s TV news and digital news teams into a single “Global News organization” that will reduce duplicated…

Continue reading…

You May Also Like

Editor's Pick

In this edition of StockCharts TV‘s The Final Bar, available to watch below, Dave celebrates the S&P 500 closing above 5500, laments the lack of market...

Editor's Pick

Gene Healy I’m just old enough to remember when people worried that a then-73-year-old Ronald Reagan was too befuddled to serve after he had a...

Editor's Pick

Amazon (AMZN) has broken out into all-time high territory, closing at $200.02 (above last week’s all-time high mark of $199.84). AMZN stock is firing...

Editor's Pick

In this video from StockCharts TV, Julius assesses the long-term trends as they are playing out on the monthly S&P 500 sector charts. He...