New CNN+ streaming services TANKS, layoffs may happen as soon as May

On Tuesday, CNN launched their new streaming service, CNN+, with high hopes that it would help the network's tumbling ratings.

The service did not appear to take off as intended, leading some to suggest that CNN+ may merge with Discovery+, which would in turn lead to layoffs.

Speaking on FOX Business, Charlie Gasparino outlined the situation.

He noted that while the technical rollout of the service went off largely without a hitch, "the problem is the subscriptions."

"And one of the big issues is that no one knows exactly how many people have signed up to this despite spending millions of dollars on advertising," said Gasparino.

He suggested that CNN's place far down the list in the App Store is indicative that CNN+ did not live up to expectations. "You would think CNN might've gotten a bump if CNN+ had a really nice debut, and it looks like they didn't."

Gasparino then talked about what he's heard from people within the company.

"They're bracing for lay-offs," he said. "If those subscriptions don't pick up, they're gonna probably gonna merge in May with Discovery+."

Discovery recently bought CNN, and with their own crews already established, Gasparino forecasted that a merger of the two streaming services would lead to layoffs for CNN employees.

Prior to the launch, CNN+ General Manager Alex MacCallum spoke with Brian Stelter about the service.

"CNN+ is our new news streaming service that leverages CNN's trust and credibility, the incredible journalistic expertise of this organization, to bring new forms of storytelling to customers," MacCallum said. She went on to detail how the service is intended to put users in the driver's seat, giving them the power to view and comment on the news their own way.