CNN is reportedly preparing for significant layoffs, as the network faces mounting pressure to cut costs and improve its performance in a competitive media landscape.
Under the leadership of CEO Mark Thompson, who took over after Chris Licht’s departure last year, CNN plans to trim its workforce, which could impact hundreds of employees across various departments.
These layoffs are expected to focus on television production teams and on-air talent whose roles may be deemed unnecessary in a “digital-first” approach the network is adopting.
Sources say the atmosphere at CNN is one of high stress and anxiety, as employees brace for the sweeping changes. One of the key targets for cost-cutting is CNN’s high-priced primetime anchors. Anderson Cooper, who has a reported annual salary of $20 million, along with Erin Burnett and Kaitlan Collins, will likely be affected by salary reductions or possible layoffs.
According to reports, Thompson may ask some top-tier talent, including Cooper, Burnett, and Collins, to take pay cuts in line with the network’s efforts to restructure.
The recent shake-up at CNN has already begun, with veteran journalist Chris Wallace confirming his departure after a tumultuous three-year stint at the network. His time at CNN was marked by struggles with low ratings and a challenging corporate environment.
Wallace, who earned an estimated $8.5 million annually, is reportedly part of Thompson’s plan to negotiate salary reductions with other high-profile figures like Jake Tapper and Wolf Blitzer.
Thompson’s reorganization strategy includes more than just cuts to talent. The network will look to reduce redundancies and streamline its operations by shifting responsibilities from producers and assistants to reporters and correspondents. Some divisions at CNN may be eliminated entirely as part of this effort.
Earlier this year, CNN already made a move to reduce its workforce by about 100 employees, or roughly 3% of its total staff. The timing of these changes coincides with disappointing ratings for CNN, particularly on Election Day, a night when the network has traditionally been a leader in viewership. CNN’s primetime audience on Election Night totaled 5.1 million viewers, while Fox News attracted a far larger audience of 10.3 million viewers during the same time period, according to Nielsen data.
The upcoming layoffs and restructuring reflect the network’s ongoing struggle to regain its footing amid a changing media landscape, with Thompson aiming to reshape CNN for the digital age. As the network navigates these challenges, employees and viewers alike will be watching closely to see how these significant changes play out in the coming months.