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CNN announces retrenchments and paywall
CNN will be removing 100 jobs and plans to launch its first digital subscriptions before the end of the year as the news network begins its overhaul of operations.
Source: www.unsplash.com
According to reports a memo was sent on Wednesday to staff by CNN CEO Mark Thompson saying that they aim to minimise the total amount of job losses.
Said Thompson: “Turning a great news organisation towards the future is not a one-day affair. It happens in stages and over time. Today’s announcements do not answer every question or seek to solve every challenge we face. However, they do represent a significant step forward and I hope you will read about them in that spirit.”
The executive was hired in 2023 to bring CNN into the future with a digital overhaul.
Thompson, who provided few specifics about the digital subscription plans, stated that CNN will develop "products that will deliver essential news, analysis, and context in engaging new formats and experiences."
He announced that the first product will launch by the end of 2024.
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