Daily SumUp

CNN is set to fire hundreds of employees on Thursday as the network prepares to restructure itself for the second term of President Donald Trump.

According to CNBC, sources at the network said the layoffs with help CNN lower production costs and consolidate essential teams. Moreover, CNN plans to completely restructure its TV lineup and expand its digital subscriptions.

Moreover, the network may move shows that are produced in New York City or Washington D.C. to Atlanta, Georgia, where the cost of production is cheaper. Warner Bros. Discovery, CNN’s parent company, recently invested more than $70 million into the network to help expand its digital operations, according to CNN CEO Mark Thompson. 

Although the job cuts are very extensive, they will not affect CNN’s recognizable names and anchors. The network has a large number of staff that totals about 3,500 across the globe. Back in October, CNN formed a digital paywall that charges users $3.99 per month to view content.

NBC News is also planning to fire some staff later this week; however, the jobs losses are expected to be under 50, according to CNBC.

The job cuts come as media companies prepare to transition themselves to where more and more consumers seek out their news: streaming and social media.