Fox News Digital spoke with CNN insiders worried about the looming layoffs and budget cuts that are about to rattle the struggling network following the election.
CNN staffers are bracing for impact in the new year as significant budget cuts and layoffs are likely to rock the entire network.
“I am overall very sad and deeply frustrated,” one longtime CNN staffer told Fox News Digital. “Feelings which are pervasive throughout the organization among those who have been here a long time and feel a deep personal connection to having helped build the organization.”
The CNN source indicated that the layoffs would be implemented “by March” and that they’ll be “very meaningful” to the rank and file at the network.
“It’s a time of a complete and utter business model overhaul and chaos. Extremely difficult even under the best circumstances,” the CNN staffer said.
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Another CNN employee cited their boss, Mark Thompson, who has been on the job for just over a year and has been outspoken about how the company will have to undergo big changes to survive.
“I am worried because the industry is obviously in trouble… I’m sure there will be cuts,” the second CNN staffer told Fox News Digital.
The employee suspected “More shows will be streamlined and produced out of Atlanta” and that those impacted the most are the “expensive” shows being produced in New York City.
Fox News Digital reached out to CNN for comment.
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While many news organizations are facing an industry-wide reckoning, both in terms of content and their bottom line, CNN seems to be feeling the hurt more than others. Last week, CNN trailed behind all major networks besides CBS in Election Night coverage, averaging just 5.1 million primetime viewers, and was bested by its liberal rival MSNBC for the first time ever with 6 million viewers. Fox News Channel trounced both of them with over 10 million viewers.
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Puck News reported last week that “hundreds” of CNN employees are expected to be impacted by layoffs in the coming months as Thompson aims to implement prioritization into digital. Thompson, who was credited for reviving The New York Times’ business model, has already been tinkering with CNN’s, rolling out a subscription plan for its news site last month.
CNN’s uncertain future is already making waves among talent. Weekend host Chris Wallace revealed Monday he’s leaving the network when his three-year contract lapses at the end of the year.
Wallace told The Daily Beast he is aiming to go independent with his own streaming or podcasting platform, but a report from The Ankler last month alleged the 77-year-old broadcaster was offered “a new deal for significantly less than the $8.5 million pact he inked under former CNN boss Jeff Zucker.”
He was among the high-profile talent that was brought onboard in 2022 for the network’s ill-fated streaming service CNN+. After CNN+’s implosion, Wallace remained at the network and went on to host two different weekend talk show programs “Who’s Talking with Chris Wallace?” and “The Chris Wallace Show,” both receiving dismal viewership.
During the presidential election year, “The Chris Wallace Show” failed to crack 600,000 total viewers and averaged just 85,000 in the advertiser-coveted 25-54 demo.
CNN’s viewership has broadly suffered, particularly since the election. CNN has averaged a dismal 413,000 total day viewers since Election Day compared to 2.2 million for Fox News Channel.
It has been reported that CNN’s biggest talent could face pay cuts as a result of the company’s restructuring and whether they choose to remain at the network, many of which have spent decades on its airwaves, or walk away.
In addition to the financial woes CNN is facing is its own identity crisis. Under Thompson’s predecessor Chris Licht, CNN’s top brass aimed to curb the perception of liberal bias and eliminating the spectacle of combative politics. But many of the changes under Licht were reversed, like the re-hiring of Brian Stelter and the anti-Trump coverage that only intensified in the final weeks of the 2024 election.
