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CNN will cut 100 jobs to focus on its digital business, according to a memo.

CNN will cut 100 jobs to focus on its digital business, according to a memo.

CNN will cut about 100 jobs as part of a plan to consolidate news operations and strengthen its digital business, according to an internal memo seen by Reuters on Wednesday.

CNN International CEO Mark Thompson said in the memo to employees that CNN will combine its newsgathering and digital teams, invest in video and launch pay-per-view news products.

“We are building a digital business of the future that will generate over $1 billion,” he said in the memo.

Thompson, a former New York Times and BBC executive who took over as CNN's CEO in October last year, is trying to streamline the network's operations and boost revenue to combat declining TV viewership.

CNN will launch a standalone subscription product for by the end of this year, the first in a series of planned subscription offerings, including one that will focus on lifestyle and premium content.

The company will create TV Future Lab, a unit that will produce content for the Max streaming platform and prepare CNN TV content for its digital channels. CNN, owned by Warner Bros. Discovery, began streaming content on Max last year.

Thompson also detailed several changes to CNN's editorial workflow, including a centralized planning and pitching process and the new role of “story director,” who oversees all aspects of a story from creation to publication or broadcast.

The memo said Thompson would discuss the plan with staff at a town hall meeting on Wednesday. (Reporting by Yuvraj Malik in Bengaluru; Editing by Anil D'Silva)