The Albany Gazette - US news giant CNN eyes 200 job cuts, streaming overhaul

The broadcaster, which said overall employee headcount could remain stable with new roles created, follows other outlets restructuring amid the return of Donald Trump to the White House on Monday.

"Some of today's announcements mean significant new job opportunities at CNN, but others will lead to the loss of some valued colleagues," CNN chief executive Mark Thompson told staff in a memo.

"Yes, there are job-losses -- around 6 percent of the current CNN workforce will be impacted -- but we don't expect total headcount to fall much this year, if at all," he added.

"That's because of the $70 million we're investing in our digital plans and the many new jobs it will pay for."

It is unclear if the restructuring will follow the pattern of some other legacy media outlets where seasoned reporters and editors on higher salaries are cleared out to make way for younger, cheaper staff for digital projects.

In November the storied Associated Press news agency said it would slash almost eight percent of jobs as the US-based wire battles client cancellations and economic headwinds.

Last July CNN announced the elimination of around 100 posts, at the same time as the creation of a paid digital offering on its website to complement existing output.

Thompson also announced on Thursday the future launch of a new paid streaming product, without giving details.

CNN previously launched a streaming service in 2022, CNN+, but it was shut down with little fanfare after a month amid a complex multi-billion-dollar merger between legacy media titans WarnerMedia and Discovery.

The channel, emblematic of declining cable TV viewership, has also suffered from stiff competition.

Long overtaken by conservative favorite Fox News, which aired an exclusive interview with Trump on Wednesday, CNN has also been overtaken by MSNBC, which has positioned itself as a vanguard of opposition and criticism to Trump and his Republicans.

(B.Smith--TAG)