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CNN is planning to axe hundreds of its 3 500 workforce as soon as possible, people familiar with the matter have told rival US network CNBC.
The US media multinational is reorienting towards digital audiences and away from television.
The redundancies are set to come amid a shift in focus to a digital audience, CNBC also reported.
The Warner Bros Discovery asset must reportedly reduce its television production costs, consolidate teams and expand its digital subscription offers, CNBC claimed yesterday, citing anonymous sources.
The cuts are not expected to affect the CNN’s most recognisable names, the sources said, adding that several shows that are currently produced in New York or Washington could move to Atlanta.
The multinational introduced a digital paywall last October, when it began charging a monthly fee of $3,99 from its frequent users.
NBC News, owned by Comcast, the world’s fourth-largest broadcaster by revenue, is also planning job cuts this week, CNBC noted, citing sources familiar with the situation.
The sources claimed that the layoffs would impact less than 50 staff.
The current news media landscape is in transition as watching linear television is becoming less popular, with more people consuming news on streaming services and through social media.
The Washington Post announced earlier this month that it would dismiss around four percent of its workforce in an effort to reduce costs amid increasing losses.
In November, the Associated Press announced plans to slash some eight percent of its workforce as the news agency seeks to update operations and products. The advent of digital media platforms has pushed traditional media operators to reorient their business conduct. – RT.com
Peter Tanyanyiwa
Online Reporter