CNN CEO Axes Numerous Employees, Announces Plan to Move Company in a Different Direction

CNN is cutting about 100 jobs as it tries another new direction.
Chief Executive Mark Thompson said the cuts are part of a plan to launch a CNN.com subscription product and merge the company’s TV news and digital news divisions, according to a memo sent to employees, The Wall Street Journal reported Wednesday.
“We recognize its potentially enormous impact on the individuals affected,” Thompson told the Journal in an interview. CNN has about 3,500 employees overall.

The memo did not offer details but said the subscription product would “be significantly built out of CNN.com,” the report said.
The memo said coming digital subscription products eventually would include news and analysis as well as paid offerings around lifestyle journalism.

Trending:
CNN CEO Axes Numerous Employees, Announces P …