WASHINGTON (dpa-AFX) - Warner Bros. Discovery, Inc.'s (WBD) CNN announced on Thursday that it is cutting about 6% of its total staff, or about 210 employees.
CNN CEO Mark Thompson announced the job cuts in a memo to staff on Thursday. In the memo, Thompson noted CNN doesn't expect total headcount to fall 'much' this year because the company plans to invest $70 million in new digital plans.
'Our objective is a simple one: to shift CNN's gravity towards the platforms and products where the audience themselves are shifting and, by doing that, to secure CNN's future as one of the world's greatest news organizations,' CNN CEO Mark Thompson said in an internal memo.
'I know that whatever the total number of job losses, the impact on the individuals involved can be immense,' Thompson wrote. 'The process of change is essential if we're to thrive in the future, but I both acknowledge and regret its very real human consequences.'
'That's because of the $70 million we're investing in our digital plans and the many new jobs it will pay for. Some of that money's going in product and tech, but a lot is also going into new high-quality journalism and storytelling. It's what we stand for,' he wrote.
The cuts will help CNN lower production costs and consolidate teams, CNBC reported citing people familiar with the matter. Certain shows that are produced in New York or Washington may move to Atlanta, where production can be done more cheaply. CNN has about 3,500 employees worldwide.
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