Entertainment
CNN Cuts 6% of Jobs in Strategy Pivot to Focus on Streaming
- Ratings at cable networks have suffered as consumers flee
- Warner Bros. investing $70 million to support ‘digital path’
As cable-TV suffers a widespread decline in viewers, CNN has been building a digital subscription product to provide news tailored to consumers’ new viewing habits.
Photographer: Brandon Bell/Getty ImagesThis article is for subscribers only.
Warner Bros. Discovery Inc.’s CNN division let go 6% of its workforce, or about 200 employees, Thursday as the cable news network focuses on streaming and digital audiences amid declining ratings.
Chief Executive Officer Mark Thompson told staff that Warner Bros. will invest $70 million to help support CNN’s pivot, and that money will be used in part to hire about 100 new employees in the first half of this year focused on the company’s” new digital path,” including a new streaming service for the classic CNN TV.