CNN is facing a critical shakeup as dismal election ratings cap off a tough period, and top-paid stars and staff are reportedly on the chopping block.

According to a new report from Puck, network executives are planning sweeping layoffs to help salvage CNN’s slipping reputation and bottom line.

The shakeup comes in the wake of veteran Chris Wallace’s exit and amid reports that senior stars like Wolf Blitzer and Jake Tapper are facing the end of the line. CNN’s highest earners include Anderson Cooper at $20 million a year, Erin Burnett at $6 million, and Kaitlan Collins at $3 million.

Reporter Dylan Byers notes that CNN will see “another round of layoffs” within the next few months, impacting hundreds of employees, particularly in production roles. “Redundant assignments will be nixed, and various divisions will be reduced or even eliminated,” Byers writes, hinting that on-air personalities will be affected.

The reorganization efforts are being led by new CEO Mark Thompson, formerly of The New York Times, who has been tasked with revamping CNN under its Warner Bros. Discovery parent company. Thompson took over in August following Chris Licht’s rocky tenure.

Under Licht, CNN dropped from its former status as the most-watched network on election nights to trailing behind competitors like Fox News and MSNBC.

This fall from grace was underscored by CNN’s election night ratings this year, where it came in last with 5.1 million viewers—significantly behind Fox News’ 10.3 million and MSNBC’s 6 million.

With CNN’s ratings in freefall, the once-dominant network is now averaging only around 800,000 viewers in primetime, compared to Fox News’ 2.8 million.

CNN’s woes reflect a larger shift in the cable news landscape, with viewer preferences increasingly influenced by streaming options and alternative media.

As CNN’s overhaul continues, it faces a challenging road ahead to remain relevant.