CNN is preparing for widespread layoffs affecting hundreds of employees as the network grapples with declining ratings and a shift toward digital platforms, according to a Puck.News report.
The cuts, following a round of 100 job losses this summer, will primarily target production staff, requiring on-air talent to take on additional responsibilities previously handled by producers and production assistants, the report said. As of this writing, CNN has not commented on the news.
The publication wrote that the restructuring comes under new CEO Mark Thompson, the former New York Times and BBC executive who replaced Chris Licht in August. Since Thompson’s arrival, the network has seen ratings drop more than 20%.
Recent Nielsen data highlighted CNN’s struggles, particularly during election coverage. The network drew 5.1 million viewers on election night, trailing MSNBC’s 6 million and Fox News’ 10.3 million viewers. This marks a stark decline from 2016, when CNN led cable news with 13.3 million primetime viewers.
The network reportedly denied raises to prominent anchors Wolf Blitzer and Jake Tapper, while veteran host Chris Wallace confirmed his $8.5 million annual contract would not be renewed. Wallace, 77, told the Daily Beast he was considering a career in podcasting.
Sources familiar with the matter told Puck that while the restructuring may create new digital-focused positions, the newsroom’s Manhattan headquarters is experiencing “stress and high anxiety” over the impending cuts.
Fox News currently dominates cable news ratings, with hosts like Laura Ingraham and Sean Hannity averaging 2.8 million viewers in primetime, while CNN’s current primetime viewership hovers around 800,000.
Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
