Media organizations including CNN have struggled to grow audiences and revenue, and have sought to diversify what they're offering to customers.
CNN is eliminating approximately 100 jobs and plans to debut its first digital subscriptions before the end of the year as the news network leans into reshaping its business.CEO Mark Thompson said noted that it's cutting just 100 jobs out of a total workforce of approximately 3,500. He said that open roles were closed wherever possible in order to minimize the total layoffs.
The executive said CNN will create subscription-ready products that offer news, analysis and context in new formats. He emphasized that there will be an effort to keep users on CNN.com's website longer and finding ways to get them to return more. “In the future our digital products need to do a far better job of reflecting CNN’s massive strength in video and anchoring/reporting talent,” Thompson said.
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