CNN's Jim Acosta announced on air Tuesday that he would be leaving the cable network, amid declining ratings and ongoing layoffs. 

He suggested on air that his departure follows an ultimatum, and apparent demotion, from management that he declined to accept. 

"You may have seen some reports about me and this show and after giving all of this some careful consideration, and weighing an alternative time slot CNN offered me, I have decided to move on," Acosta said during a mid-morning broadcast.

Acosta said during his farewell speech that he would announce his future plans in the next few days.

The network during President Trump's first term leaned hard into accountability coverage of his administration and aired strident on-air criticism of the president during prime-time opinion shows, according to The New York Times. 

New CEO Mark Thompson is trying to steer the network toward a more neutral posture, an attempt to broaden the network’s viewership among conservative viewers.

Acosta rose to prominence by sparring with Trump during his first administration.

"Until then, I want to thank all of you for tuning in. It has been an honor to be welcomed into your home for all of these years," he also said Tuesday. 

New reports of Acosta's upcoming departure have circulated in recent days, and he wasn't on CNN's updated programming schedule. 

Acosta said that he was thankful for the almost 18 years he worked at the network and said he plans to continue to "hold power to account."