According to a report in The Wrap, CNN and sister network Headline News are planning to lay off 550 staffers, a huge and very painful cutback.

Some 550 buyouts are to be offered at Time Warner's Turner network this week, including a large number of those at CNN and HLN, which will lead to layoffs if they are not taken voluntarily, according to an individual with knowledge of the network's plans.

The buyouts will come across the Turner division, with a couple of hundred expected at CNN and HLN, the individual said.

A CNN spokeswoman had no immediate comment.

News of the buyouts comes shortly after Turner Broadcasting System CEO John Martin revealed in an internal memo Tuesday that corporate restructuring was coming in the next two months.

The fundamental problem is that viewers are staying away from both news outlets:

HLN has been struggling in the ratings, regularly finishing fourth in total viewers and in primetime across the key cable news demo, viewers 25-54. It did edge out MSNBC in the demo across a total day measurement in 2014's second quarter.

CNN's ratings have been doing well during times of big, national breaking news — but the cable news net regularly ranks far behind Fox News and battles with MSNBC probably more than it would prefer.

In contrast, everything’s coming up roses at Fox News. Variety reports:

A busy week in news was a good one for Fox News Channel, which logged its second highest-rated frame of the year, but a weak one for MSNBC, which found itself deep in third place.

FNC, with several shows hitting 2014 highs, won in adults 25-54 and total viewers on both a primetime and total-day basis for Monday through Friday of last week. Tune-in was above average across the news board due to coverage of the protests in Ferguson and the murder of James Foley.

Looking at the Nielsen numbers, Fox News averaged 443,000 adults 25-54 in primetime to finish ahead of CNN (361,000) in the key news demo, with both networks more than doubling the tally of MSNBC (179,000). CNN had narrowly won in the demo on Monday and Tuesday, before Fox News asserted itself Wednesday through Friday.

In total-day numbers, FNC averaged 272,000, to 241,000 for CNN and just 106,000 for MSNBC.

Because progressives dominate 90% of media outlets and studiously ignore major stories like the IRS scandals, Benghazi, and basically anything harmful to Democrats, Fox News is handed the opportunity to reach the public with distinctive content unavailable elsewhere, and the public is responding.

Most major media would rather be progressive than successful. But then again, progressivism almost never works as it promises, based as it is on a false notion that human nature can be perfected with the appropriate institutional arrangements (including, of course, a media structure that plays along). CNN and MSNBC prefer to live in that make-believe land, and are suffering the cosequences.

Almost certainly, the widespread disillusionment with President Obama, who also lives in the progressive bubble where if only we make nice to Muslims they will be friendly, tolerant and peaceful toward us, for instance, is contributing to viewers shunning the prog cable news outlets.

Progressives’ chickens, as Rev Wright was wont to say, are coming home to roost.