New York, June 11: Cable News Network (CNN), a multinational news channel and website based in the US, might soon announce job cuts as it inks a deal with the Associated Press. CNN employees fear that the layoffs will be initiated as the company has done a deal with the Associated Press to use its copy on its website. According to a report, CNN has agreed to such a deal for the first time, as it cut ties with AP around 14 years ago.

New York Post reported that CNN's deal with the Associated Press (AP), American not-for-profit news agency had sparked concerns among the news network employees. The staffers reportedly feared that CNN layoffs might be announced soon due to the struggling network. The report mentioned the fear about the potential CNN layoffs spread across the employees as CNN Worldwide's Chairman and CEO Mark Thompson would likely turn the network around by sharpening his "strategic vision". Paytm Layoffs: Fintech Major Lays Off Undisclosed Numbers of Employees as Part of Restructuring After RBI Ban, Promises Smoother Transition and Outplacement.

The report mentioned that Mark Thompson hinted in April that the workforce reduction might happen in the future. He further talked about the "significant opportunities for de-duplication of parallel organisation, structures and activities." He emphasised that the company could do both but less expensively. 

CNN Worldwide CEO Mark Thompson further said the network had been facing an "existential crisis" amid the shrinking cable TV business and cord-cutting. Last month, the CEO said plenty of things needed to be fixed. On March 1, Mark Thompson revealed a "five-point" plan which included the following points. Kissflow Layoffs: Indian Software Company Cuts 15% of Its Workforce, Around 20 to 25 Employees Due to Product Shut Downs, Annual Performance Reviews. 

  • Building Digital Future

  • Future-proofing Television Production

  • Globally integrated multimedia news operation

  • Communication and Culture 

  • Development of New Revenue Sources

The report did not mention exactly how many employees might be laid off or whether the company would resort to such a decision. However, it mentioned that the employees were concerned about the deal between CNN and the Associated Press. The report also pointed out that in 2010, CNN announced that it would not use the content from the Associated Press and ended the long-term relationship since the cable news network's inception. 

(The above story first appeared on LatestLY on Jun 11, 2024 07:30 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).