CNN is expected to eliminate less than 50 positions as part of a retrenchment among some of its digital properties, the latest media outlet to temper its outlook for growth in the medium.
“We’ve been transparent about our strategy. In order to innovate, grow and experiment, we’ve added more than 200 jobs in the past 18 months. Not every new project has paid off so we will stop some activities in order to reallocate those resources and enable future experimentation,” the Time Warner-owned news outlet said in a statement. “Organizations that do not make big bets and continuously evolve are the ones that fail.”
CNN recently announced it would shutter Beme, a project that involved YouTube influencer Casey Neistat. The company has also pulled back from efforts with Snapchat and scuttled a CNNMoney project known as MoneyStream.
A person familiar with the matter said the number of employees affected was not immediately known, as some of those jobs may be “repurposed” in other parts of the organization.