CNN, struggling with ratings problems, is reportedly poised for a major disaster, with boss Mark Thompson expected to let go of high-paying show stars as part of widespread layoffs has been done.
The cable network, which lagged behind rivals MSNBC and Fox News in its election night coverage last week, will implement “layoffs affecting hundreds of employees across the organization.” According to Pac News.
Thompson, who took over last year after the ouster of Chris Licht, plans to weed CNN's television production team of talent “whose talent is not necessarily needed in the new digital-first environment,” the newspaper added..
Pack said the network's employees are reportedly dealing with “an atmosphere of high stress and high anxiety.”
Mr. Thompson, the former chief executive of the New York Times and the BBC, is expected to take a significant chunk of the huge salaries amassed by struggling prime-time anchors including Anderson Cooper, Erin Burnett and Caitlan Collins. They may also request reductions.
Cooper, who anchored election night broadcasts, is said to earn as much as $20 million a year.. Burnett will make around $6 million, while Collins will take home a more budget-friendly $3 million.
The Post has reached out to CNN for comment.
Signs of change were clear Monday as Chris Wallace confirmed he was leaving CNN, ending a three-year tenure at the network marred by low ratings and board turmoil.
last month, Independent newsletter “Ankler” According to reports, Thompson will ask Wallace, who earns an estimated $8.5 million a year, and other top stars at the station, including Jake Tapper and Wolf Blitzer, to take pay cuts.
As part of Thompson's reorganization plan, CNN will ask its reporters and correspondents to take on more responsibilities currently held by producers and production assistants.
CNN also plans to eliminate redundant assignments, as well as reduce or completely eliminate various departments, Pack said.
Earlier this year, CNN laid off about 100 employees, or 3% of its workforce.
The anticipated change comes amid low ratings for the network on Election Day, which has historically been the dominant election day.
CNN had just 5.1 million viewers in prime time last Tuesday night, according to Nielsen data. Fox News, which shares common ownership with the Post, drew 10.3 million viewers between 8pm and 11pm ET on Tuesday, according to Nielsen data.
MSNBC's coverage, anchored by Rachel Maddow, averaged 6 million viewers, a record high for the first time in CNN's history.
On Election Day 2016, CNN had 13.3 million viewers.
A CNN spokesperson touted the network's “cross-platform audience” of 44 million people, including 14 million who streamed coverage on digital platforms and CNN Max.
The network also noted that 67 million people visited CNN.com during voting day.
