CNN is reportedly preparing for a significant restructuring that will include widespread layoffs and potential salary cuts for high-profile anchors, according to Puck News. This comes as the network struggles with declining ratings, particularly during its recent Election Night coverage.
Mark Thompson, who took over as CNN’s chairman and CEO last year, is expected to oversee the layoffs, which could impact hundreds of employees across the organization. The network is reportedly shifting towards a “digital-first” strategy, which may lead to cuts in television production teams, according to Puck News.
Sources indicate that CNN’s newsroom is grappling with “an atmosphere of high stress and high anxiety” as the changes loom. Thompson, the former CEO of the New York Times and the BBC, is also reportedly considering demanding significant salary reductions from primetime anchors like Anderson Cooper, Erin Burnett, and Kaitlan Collins.
This news follows the recent departure of Chris Wallace, who confirmed his exit from CNN on Monday after a three-year stint marked by low ratings. Last month, reports surfaced that Thompson planned to ask Wallace and other top anchors, including Jake Tapper and Wolf Blitzer, to accept pay cuts.
Thompson’s reorganization plan reportedly involves streamlining operations by asking reporters and correspondents to take on more responsibilities, eliminating redundancies, and potentially downsizing or eliminating certain divisions.
CNN’s ratings have been a cause for concern, especially during Election Night coverage. The network drew just 5.1 million viewers in prime time last Tuesday, falling behind both Fox News (10.3 million viewers) and MSNBC (6 million viewers).
Despite the challenging television viewership, CNN spokespeople emphasized the network’s “cross-platform audience” of 44 million, which includes viewers who streamed coverage on digital platforms and CNN Max.
These impending changes signal a significant shift in CNN’s strategy as it navigates a rapidly evolving media landscape and seeks to regain its footing in the competitive news market.