Major Fox News Competitor Laying off Hundreds, Changing TV Lineup

CNN is one of the largest news channels in the world.

As it looks ahead to the future, the company wants to transition into more of a digital company, and it has started making necessary cuts to get there.

CNN has announced it will lay off hundreds of Americans from the TV side of things, both on-air and off-air, and the network is also shuffling its on-air lineup.

Reuters has obtained an internal memo that CEO Mark Thompson sent out, saying, “Our objective is a simple one: to shift CNN’s gravity towards the platforms and products where the audience themselves are shifting.”

It seems as if this is not a cost-cutting move, as CNN also says it plans on hiring hundreds of new employees on the digital side.

What does this mean for some of your favorite personalities on CNN?

Not too much. According to insiders at CNBC, the job cuts won’t affect CNN’s most recognizable names, who are under contract. CNN has about 3,500 employees worldwide.

As the battle of 24/7 news coverage continues to heat up, large news corporations are seeing their digital revenue increase and are moving toward finding new ways to scratch that itch and give the people what they want.

We are so far removed from the ’80s and ’90s, where we only got news from 5AM-9AM and 6PM-11PM. Now, not only do we want news on our TV 24/7, but we can get it right on our phones.

For CNN, it’s time to capitalize on that fact and try to cash in with more and more digital revenue.