New CNN CEO Mark Thompson Lays Off 100 Employees in Major Restructuring Effort

By Madz Dizon

Jul 10, 2024 08:07 PM EDT

New CNN CEO Mark Thompson Lays Off 100 Employees in Major Restructuring Effort
Mark Thompson Chairman and CEO of CNN Worldwide speaks onstage during Warner Bros. Discovery Upfront 2024 on May 15, 2024 in New York City.
(Photo : Dimitrios Kambouris/Getty Images for Warner Bros. Discovery)

Media company CNN is set to reduce its workforce by approximately 100 positions as it implements a strategy to streamline news operations and strengthen its digital business, as revealed in an internal memo obtained by Reuters on Wednesday, July 10.

CNN Chief Mark Thompson Announces More Layoffs

CNN Worldwide CEO Mark Thompson announced plans to integrate the news-gathering and digital news teams, and make significant investments in video operations.

Additionally, CNN will be introducing pay-per-view news products. Thompson, a seasoned media professional with experience at the New York Times and BBC, has recently assumed the role of CNN's CEO.

Since taking charge, he has been focused on optimizing the network's operations and boosting sales in response to the decline in TV viewership.

CNN has announced plans to introduce a new subscription product for later this year. This will be the first of several subscription offerings, with one specifically catering to lifestyle and feature content.

The outlet is launching TV Future Lab, a dedicated unit that will produce content for the Max streaming platform and curate CNN's TV content for its digital channels. CNN, a media outlet owned by Warner Bros Discovery (WBD.O), began streaming content on Max last year.

The company is also planning to expand its content offerings to provide more useful and engaging information for its audience, including lifestyle and feature articles.

According to Thompson, these products offer the company a range of opportunities to generate revenue, such as sponsorships, new advertising, and direct-to-consumer subscriptions.

Moreover, the network aims to explore the safe and effective utilization of this technology to better serve its audience.

In August 2023, Thompson, who previously held top positions at the BBC and The New York Times, assumed the leadership of CNN. He officially began his role in October.

He took over for Chris Licht, who was let go in June of that year. Thompson played a crucial role in guiding the Times towards a digital-first approach, relying more on paid subscribers rather than the declining advertising market that has caused the downfall of numerous newspapers.

In January, Thompson presented his staff with a plan to revamp the website, emphasizing the need for a significant modernization.

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Media Industry Turbulence

Meanwhile, the President of CBS News, Ingrid Ciprian-Matthews, announced her resignation, indicating ongoing turbulence in the media industry.

Ciprian-Matthews will remain in his role as an adviser until the presidential election concludes, after which he will leave CBS News. Last August, she was appointed as the president of CBS News.

The timing of her departure coincided with CBS parent Paramount Global's recent announcement of selling control of the company to entertainment firm Skydance. This change in ownership is anticipated to result in job cuts at CBS.

Ciprian-Matthews hinted at upcoming changes in a memo she sent to staff members, AP News reported.

READ MORE: Dyson to Cut Over 1,000 UK Jobs Amid Global Restructuring 

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