AT&T’s Otter Media Axes 10 Percent of Staff in Reorganization

Otter Media has laid off 10 percent of its staff as the result of a reorganization within the company, a person familiar with the matter tells TheWrap. The company attributes the “ever-changing” market for digital media as the reason for the staffing cuts.

“As a result of these changes, we’ve had to make some difficult decisions related to the size of our organization and have to say goodbye to some valued colleagues,” Otter Media CEO Tony Goncalves said in an email to staff announcing the changes.

The reorganization included consolidating Otter’s direct-to-consumer businesses under Ellation and bringing WarnerMedia’s Machinima into the Otter family starting in January. The company has also unified shared services such as HR and legal across Otter Media and refocused the Fullscreen business to operate as three distinct divisions: Creator Services, which will be led by Beau Bryant; Brand Studio (influencer marketing and custom content) led by Maureen Polo; and Brand Services (social creative and video channel management) led by John Holdridge.

Also Read: ‘Friends’ Likely to Stream on WarnerMedia’s New Service Too

“These groups will be free to operate independently and to integrate when it serves our clients best, while centrally leaning on our proprietary data as a key differentiator in the market,” Goncalves explained in the email. “Focusing on the businesses with higher yields and performance will be integral to overall success.”

The three new teams will report to Andy Forssell, Otter Media COO.

Additionally, Rooster Teeth will now operate as a brand alongside Crunchyroll and VRV, which will be led by Tom Pickett. Goncalves said that changes will be minimal to “ensure that we continue to maintain what’s special about both the Rooster Teeth and Crunchyroll brands and the unique capabilities of each, with the key exception that our consumer brands (including Rooster Teeth) will align all sales efforts for this special collection of brands.”

Also Read: Verizon Shutters Go90 After Betting Hundreds of Millions on Short-Form Video

Otter Media — which was founded by AT&T and the Chernin Group in 2014 to acquire, invest in and launch over-the-top video services — is now fully owned by AT&T via a $1 billion deal that took place in August. The company oversees Ellation, which has control over several streaming services including Crunchyroll, VRV and RoosterTeeth. 

“In our work we are at the tip of the spear for how youth consume media and are poised to meet consumer demands, redefine markets and create something worth following,” Goncalves added. “Remember this: our shows, videos, content, events and merchandise are not just ‘enjoyed’ by fans around the world — they’re loved. That love is why we do what we do, and it’s what we’ll continue to do, together.”

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AT&T Targets Full Otter Media Acquisition as Part of Its Buyout Spree

Otter Media has laid off 10 percent of its staff as the result of a reorganization within the company, a person familiar with the matter tells TheWrap. The company attributes the “ever-changing” market for digital media as the reason for the staffing cuts.

“As a result of these changes, we’ve had to make some difficult decisions related to the size of our organization and have to say goodbye to some valued colleagues,” Otter Media CEO Tony Goncalves said in an email to staff announcing the changes.

The reorganization included consolidating Otter’s direct-to-consumer businesses under Ellation and bringing WarnerMedia’s Machinima into the Otter family starting in January. The company has also unified shared services such as HR and legal across Otter Media and refocused the Fullscreen business to operate as three distinct divisions: Creator Services, which will be led by Beau Bryant; Brand Studio (influencer marketing and custom content) led by Maureen Polo; and Brand Services (social creative and video channel management) led by John Holdridge.

“These groups will be free to operate independently and to integrate when it serves our clients best, while centrally leaning on our proprietary data as a key differentiator in the market,” Goncalves explained in the email. “Focusing on the businesses with higher yields and performance will be integral to overall success.”

The three new teams will report to Andy Forssell, Otter Media COO.

Additionally, Rooster Teeth will now operate as a brand alongside Crunchyroll and VRV, which will be led by Tom Pickett. Goncalves said that changes will be minimal to “ensure that we continue to maintain what’s special about both the Rooster Teeth and Crunchyroll brands and the unique capabilities of each, with the key exception that our consumer brands (including Rooster Teeth) will align all sales efforts for this special collection of brands.”

Otter Media — which was founded by AT&T and the Chernin Group in 2014 to acquire, invest in and launch over-the-top video services — is now fully owned by AT&T via a $1 billion deal that took place in August. The company oversees Ellation, which has control over several streaming services including Crunchyroll, VRV and RoosterTeeth. 

“In our work we are at the tip of the spear for how youth consume media and are poised to meet consumer demands, redefine markets and create something worth following,” Goncalves added. “Remember this: our shows, videos, content, events and merchandise are not just ‘enjoyed’ by fans around the world — they’re loved. That love is why we do what we do, and it’s what we’ll continue to do, together.”

Related stories from TheWrap:

Drake, Dwyane Wade Join Otter Media in Mars Reel Investment

AT&T Buys Out The Chernin Group's Stake in Otter Media to Gain Full Ownership

AT&T Targets Full Otter Media Acquisition as Part of Its Buyout Spree

Otter Media Lays Off 10% Of Staff In Restructuring Of Digital Properties

Otter Media laid off about 10% of its staff today in a sweeping reorganization of its digital properties intended to make these assets more competitive and profitable.
CEO Tony Goncalves sent an email to staff today outlining changes that he said would…

Otter Media laid off about 10% of its staff today in a sweeping reorganization of its digital properties intended to make these assets more competitive and profitable. CEO Tony Goncalves sent an email to staff today outlining changes that he said would better position the digital media company to capitalize on the opportunities in a rapidly changing digital landscape. Otter’s consumer brands would be consolidated under the Ellation division, which operates the…

Thomson Reuters to Slash 3,200 Jobs by 2020

Thomson Reuters on Tuesday revealed plans to cut 3,200 jobs — roughly 12 percent of its workforce — by 2020 in an attempt to cut costs and “streamline the business,” according to the news arm of the company.
“This is in r…

Thomson Reuters on Tuesday revealed plans to cut 3,200 jobs — roughly 12 percent of its workforce — by 2020 in an attempt to cut costs and “streamline the business,” according to the news arm of the company.

“This is in reference to our chief operating officer’s presentation at Thomson Reuters Investor Day today, where headcount figures were mentioned. Almost all of these reductions have already been announced to employees, so there isn’t anything new here,” a spokesperson for the company told TheWrap.

It’s unclear when or in what divisions the cuts will take place

The news comes after TheWrap reported Monday that the company had trimmed more than a dozen staffers from the Reuters news service, including several senior editors from the U.S.-based Americas desk, including editor Toni Reinhold, her deputy, Clive McKeef, and U.S. public finance editor Daniel Bases.

“Layoffs were described to us as a restructuring,” a U.S.-based employee told TheWrap on Monday.

On the Americas desk, the layoffs sent a tremor through the newsroom and prompted an internal letter of protest to desk chief Howard Goller that called the dismissals “an incredibly foolish move.”

Reuters Lays Off More Than a Dozen Staffers in ‘Restructuring’

Reuters has laid off more than a dozen staffers in what management described to one employee as “restructuring.”

The cuts hit at least three top editors based in the United States and another 10 staffers in London. There were also an untold number of additional layoffs across foreign bureaus, including Poland, Italy and elsewhere in Europe and Asia.

“Layoffs were described to us as a restructuring,” a U.S.-based employee told TheWrap on Monday.

In the United States, the news organization dropped Americas desk editor Toni Reinhold, his deputy, Clive McKeef, and U.S. public finance editor Daniel Bases.

Also Read: MSNBC’s Chris Matthews Says Trump Is ‘Taking Us Back’ to Zimbabwe Level: ‘Everything Is Tribal’

On the Americas desk, the layoffs sent a tremor through the newsroom and prompted an internal letter of protest to desk chief Howard Goller that called the dismissals “an incredibly foolish move.”

The news was first reported by Politico in its morning newsletter.

A spokesperson for Reuters declined to get into specifics or to provide numbers on how many employees were affected, saying only that the layoffs were implemented to improve “efficiency” at the company.

“We are currently reviewing our global operations and how our newsrooms are organized as we look to enhance the quality of our work and ensure we are serving our customers’ changing needs,” they said.

“We are confident that the changes we are making will increase our efficiency, enhance our services and allow us to produce more of the high-impact journalism – exclusives, investigations and insights – that we know is valued by our clients.”

It’s only the latest in a string of bad news for journalists, as 2018 proves to be a year of broad national and international retrenchment for news organizations. Only last week, Mic.com laid off its entire newsroom in advance of a firesale to Bustle, while BuzzFeed shut down its offices in France earlier this year. Univision, The Daily News, The Denver Post and Upworthy have all also slashed staff in 2018.

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Reuters has laid off more than a dozen staffers in what management described to one employee as “restructuring.”

The cuts hit at least three top editors based in the United States and another 10 staffers in London. There were also an untold number of additional layoffs across foreign bureaus, including Poland, Italy and elsewhere in Europe and Asia.

“Layoffs were described to us as a restructuring,” a U.S.-based employee told TheWrap on Monday.

In the United States, the news organization dropped Americas desk editor Toni Reinhold, his deputy, Clive McKeef, and U.S. public finance editor Daniel Bases.

On the Americas desk, the layoffs sent a tremor through the newsroom and prompted an internal letter of protest to desk chief Howard Goller that called the dismissals “an incredibly foolish move.”

The news was first reported by Politico in its morning newsletter.

A spokesperson for Reuters declined to get into specifics or to provide numbers on how many employees were affected, saying only that the layoffs were implemented to improve “efficiency” at the company.

“We are currently reviewing our global operations and how our newsrooms are organized as we look to enhance the quality of our work and ensure we are serving our customers’ changing needs,” they said.

“We are confident that the changes we are making will increase our efficiency, enhance our services and allow us to produce more of the high-impact journalism – exclusives, investigations and insights – that we know is valued by our clients.”

It’s only the latest in a string of bad news for journalists, as 2018 proves to be a year of broad national and international retrenchment for news organizations. Only last week, Mic.com laid off its entire newsroom in advance of a firesale to Bustle, while BuzzFeed shut down its offices in France earlier this year. Univision, The Daily News, The Denver Post and Upworthy have all also slashed staff in 2018.

Related stories from TheWrap:

Reuters Editor Apologizes for Blaming Trump for Newsroom Shooting

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Mic Co-Founders Savaged by Union After Mass Layoffs: ‘New Low in Corporate Mendacity’

The co-founders of Mic.com came in for a brutal denunciation from their own union on Thursday after company chief Chris Altcheck announced mass layoffs yesterday to the site’s editorial staff.
“While many of us have experienced layoffs and …

The co-founders of Mic.com came in for a brutal denunciation from their own union on Thursday after company chief Chris Altcheck announced mass layoffs yesterday to the site’s editorial staff.

“While many of us have experienced layoffs and upheavals in the past at other media companies, this level of deception from Mic co-founders Chris Altcheck and Jake Horowitz represents a new low in corporate mendacity,” they said. “While we were mourning the loss of our newsroom, that shock and disillusionment quickly turned to anger as it soon became apparent that we were lied to, once again, by Mic management.”

The layoffs came in addition to news that the company had been sold off to Bustle chief Bryan Goldberg — who was also singled out for criticism by the union.

“We cannot image a move more cynical or perverse than terminating your entire staff, only to cede the “brand” to a new buyer who will presumably pick the scraps from the carcass of a newsroom that we all spent years building,” said the union.

With the sale to Bustle, the ultimate fate of the Mic Union remains unclear. Reps for Mic and Bustle declined to comment.

Valued at $100 million just two year ago, Mic was ultimately forced to sell for less than $5 million to Goldberg yesterday amid a cash crunch precipitated in the short term by Facebook’s decision to cancel the company’s Facebook Watch program.

Over the longterm many outside critics noted how the company had hitched its wagon too closely to social media algorithms at the expense of developing real audience. Many also asked why a company funded entirely with investor largess would spend money on lavish office space in New York City’s World Trade Center — rent for which the Real Deal reported totaled $2.5 million a year. 

“If you’re in journalism and in fancy office space, you better have a plan B. Almost a sure sign that people are making bad decisions with their investors money,” said Mother Jones Editor-in-Chief Clara Jeffrey on Thursday.

Though there had been warnings signs, the fall of Mic still came as a surprise to many. Just weeks ago, Altcheck falsely insisted that there was nothing amiss at the company and berated a journalist for accurately reporting otherwise.

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Mic Announces Mass Layoffs Ahead of Possible Sale to Bustle

Mic.com announced that it would be laying off the majority of its editorial staff amid a cash crunch and talks of a possible firesale to Bustle chief Bryan Goldberg, a company rep confirmed to TheWrap on Thursday.

The news was first revealed by company CEO and co-founder Chris Altchek in a staff meeting this morning. Among those leaving included the website’s publisher, Cory Haik, who also emailed the staff this morning to announce her departure.

“It is with great sadness that I write to you this morning to resign my position as Publisher,” she wrote. “Our business models are unsettled and the macro forces at play are all going through their own states of unrest.”

Also Read: Jimmy Fallon Doing Trump Doing Elvis Is What Late-Night Needed This Week (Video)

One of those macro forces was an overreliance on traffic from Facebook, and the social network’s decision to cancel Mic’s Facebook Watch program.

Reps for Bustle did not immediately respond to request for comment from TheWrap, but reports yesterday suggested that any acquisition of the company would come with a significantly reduced staff.

In September, Altchek, categorically denied that anything was wrong. In a tweet, Altchek berated Columbia Journalism Review’s Matthew Ingram for suggesting it wasn’t.

Also Read: Vox Media Critic Mocked for Saying Young Sean Hannity ‘Used to Be Kind of Cute’

Well, the news is out: Today is my last day @Mic. I’m so proud of what we’ve accomplished here, me over the past 2.5 years. If anyone is looking for a snarky political junkie and reporter, my personal email is cahn.emily@gmail.com. And hire my amazing colleagues, too.

— Emily C. Singer (@CahnEmily) November 29, 2018

Surprise: I no longer work at Mic! Here’s my resume. https://t.co/MZE0NfTSuu

— ????????‍avier Harding (@iamxavier) November 29, 2018

Me leaving the Mic newsroom today for the last time https://t.co/NH2UgmSp9M

— Brianna Provenzano (@bri_provenzano) November 29, 2018

After raising $60 million, growth stalled at the millennial focused website, which suffered from many of the same problems that have plagued other media companies that were too reliant on social media traffic.

Also Read: Washington Post Media Critic Calls on Mark Zuckerberg to Step Down

This is the latest in a string of bad news for Mic. In September, longtime reporter Jack Smith IV was forced out in the wake of a #MeToo scandal just weeks ago.

“Because of the multiple, disturbing allegations made in this story against Jack Smith, we have terminated our contract with him, effective immediately,” executive news director Kerry Lauerman said in a note shared to staff in September.

The accusations against Smith were reported by Jezebel — which you can read here. 

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Mic.com announced that it would be laying off the majority of its editorial staff amid a cash crunch and talks of a possible firesale to Bustle chief Bryan Goldberg, a company rep confirmed to TheWrap on Thursday.

The news was first revealed by company CEO and co-founder Chris Altchek in a staff meeting this morning. Among those leaving included the website’s publisher, Cory Haik, who also emailed the staff this morning to announce her departure.

“It is with great sadness that I write to you this morning to resign my position as Publisher,” she wrote. “Our business models are unsettled and the macro forces at play are all going through their own states of unrest.”

One of those macro forces was an overreliance on traffic from Facebook, and the social network’s decision to cancel Mic’s Facebook Watch program.

Reps for Bustle did not immediately respond to request for comment from TheWrap, but reports yesterday suggested that any acquisition of the company would come with a significantly reduced staff.

In September, Altchek, categorically denied that anything was wrong. In a tweet, Altchek berated Columbia Journalism Review’s Matthew Ingram for suggesting it wasn’t.

After raising $60 million, growth stalled at the millennial focused website, which suffered from many of the same problems that have plagued other media companies that were too reliant on social media traffic.

This is the latest in a string of bad news for Mic. In September, longtime reporter Jack Smith IV was forced out in the wake of a #MeToo scandal just weeks ago.

“Because of the multiple, disturbing allegations made in this story against Jack Smith, we have terminated our contract with him, effective immediately,” executive news director Kerry Lauerman said in a note shared to staff in September.

The accusations against Smith were reported by Jezebel — which you can read here. 

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Digital Publisher Mic Lays Off Much Of Its Staff As It Negotiates Sale — Report

Mic reportedly laid off the bulk of its staff this morning as it negotiates a sale to Bustle Digital Group, a publisher reaching millennial women.
The millennial news outlet is in talks to sell its assets to Bustle Digital group for a reported $10 mill…

Mic reportedly laid off the bulk of its staff this morning as it negotiates a sale to Bustle Digital Group, a publisher reaching millennial women. The millennial news outlet is in talks to sell its assets to Bustle Digital group for a reported $10 million, according to multiple published reports. That price, first reported by The Information, would represent a significant discount on Mic’s valuation when it raised $60 million from investors. Recode reported that Mic CEO…

AMC Networks Centralizes Executive Structure, Upping Sarah Barnett, David Madden And Linda Schupack; 40 Positions Eliminated

AMC Networks has centralized its operations, promoting Sarah Barnett to president of entertainment networks and upping senior executives David Madden and Linda Schupack.
The restructuring will result in about 40 layoffs, or about 2% of the workforce at…

AMC Networks has centralized its operations, promoting Sarah Barnett to president of entertainment networks and upping senior executives David Madden and Linda Schupack. The restructuring will result in about 40 layoffs, or about 2% of the workforce at the entertainment networks, sources tell Deadline. AMC Networks did not comment on any job losses. The shift comes less than a month after the announcement that AMC vet Charlie Collier is heading to New Fox, replacing Gary…

Disney Digital Network Hit With a New Round of Layoffs

Disney Digital Network has been hit with layoffs impacting just under 20 staffers, TheWrap has learned.

The layoffs, which come ahead of Disney’s acquisition of a large portion of 21st Century Fox assets, are the result of the company shifting resources to other areas in order to address future needs of the business, according to a person with familiar with the matter.

The Culver City-based unit, which is now apart of Disney’s recently formed Direct to Consumer and International segment, runs a number of the company’s digital business, including the multi-channel network Maker Studios.

It’s unclear how many people are employed overall at Disney Digital Network, which downsized roughly 80 people in February 2017, including the Maker Studios unit the studio acquired in 2014 for $500 million.

Also Read: Everything You Need to Know About Disney’s Streaming Service

The news comes one month after Disney laid off a number of employees from its Consumer Products and Interactive Media group. The unit laid off nearly 50 people, which is the limit that would require a disclosure under federal law.

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Disney Digital Network has been hit with layoffs impacting just under 20 staffers, TheWrap has learned.

The layoffs, which come ahead of Disney’s acquisition of a large portion of 21st Century Fox assets, are the result of the company shifting resources to other areas in order to address future needs of the business, according to a person with familiar with the matter.

The Culver City-based unit, which is now apart of Disney’s recently formed Direct to Consumer and International segment, runs a number of the company’s digital business, including the multi-channel network Maker Studios.

It’s unclear how many people are employed overall at Disney Digital Network, which downsized roughly 80 people in February 2017, including the Maker Studios unit the studio acquired in 2014 for $500 million.

The news comes one month after Disney laid off a number of employees from its Consumer Products and Interactive Media group. The unit laid off nearly 50 people, which is the limit that would require a disclosure under federal law.

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Disney Sets Another Small Round Of Layoffs

Disney has laid off fewer than 20 employees at the Disney Digital Network, the unit in Glendale that includes Maker Studios.
While it doesn’t affect a large number of workers, the move is the latest of several job reductions tied to reorganizatio…

Disney has laid off fewer than 20 employees at the Disney Digital Network, the unit in Glendale that includes Maker Studios. While it doesn’t affect a large number of workers, the move is the latest of several job reductions tied to reorganizations ahead of Disney’s acquisition of most of 21st Century Fox. The Digital Network is now part of the company’s Direct to Consumer and International segment, whose formation was announced in March. DTCI is shepherding the…

NBCUniversal Lays Off Dozens Across Advertising Division

NBC Universal laid off around 50 people this week, mostly within its advertising division, a person familiar with the matter told TheWrap on Thursday.

In a separate statement, the company said the the cuts were necessary to make sure NBC remained competitive.

“From time to time we look across the business to ensure we’re best positioned to stay competitive in this rapidly changing marketplace. As a result, there will be some staffing changes within our advertising division,” a spokesperson told TheWrap.

“NBCUniversal is going through an effort to right size its business and allocate resources to future growth areas, such as new developments in advanced advertising, automation and technology systems.”

The company also plans to eliminate a number of formerly open positions as part of the reorganization.

Also Read: Don Lemon Doubles Down on ‘White Men’ Criticism: ‘Let’s Put Emotion Aside’

News that the cuts were looming was first reported Wednesday by the Wall Street Journal. An NBCUniversal spokesperson declined to elaborate about any of the specifics of what may have prompted the layoffs.

The departures come amid a broader season of belt-tightening and media consolidation as players from small start ups to corporate giants look for ways to trim expenditures.

In April, Univision shed roughly 150 employees and later revealed their intention to sell of Gizmodo Media, a slew of web properties acquired with great fanfare from the bankruptcy sale of Gawker Media. BuzzFeed, the New York Daily News and Mic have all shed staff in retrenchments this year as well.

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NBC Universal laid off around 50 people this week, mostly within its advertising division, a person familiar with the matter told TheWrap on Thursday.

In a separate statement, the company said the the cuts were necessary to make sure NBC remained competitive.

“From time to time we look across the business to ensure we’re best positioned to stay competitive in this rapidly changing marketplace. As a result, there will be some staffing changes within our advertising division,” a spokesperson told TheWrap.

“NBCUniversal is going through an effort to right size its business and allocate resources to future growth areas, such as new developments in advanced advertising, automation and technology systems.”

The company also plans to eliminate a number of formerly open positions as part of the reorganization.

News that the cuts were looming was first reported Wednesday by the Wall Street Journal. An NBCUniversal spokesperson declined to elaborate about any of the specifics of what may have prompted the layoffs.

The departures come amid a broader season of belt-tightening and media consolidation as players from small start ups to corporate giants look for ways to trim expenditures.

In April, Univision shed roughly 150 employees and later revealed their intention to sell of Gizmodo Media, a slew of web properties acquired with great fanfare from the bankruptcy sale of Gawker Media. BuzzFeed, the New York Daily News and Mic have all shed staff in retrenchments this year as well.

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Refinery29 Lays Off 10 Percent of Staff After Missing Revenue Goals

Refinery29 is laying off 10 percent — 40 employees overall — of its workforce as the company reorganizes its ad-sales team into a single “Customer Solutions Group.” The cuts were announced today via a staff memo from the company’s co-founders and joint CEOs Philippe von Borries and Justin Stefano.

“While our 2018 revenue will show continued year-over-year growth, we are projecting to come in approximately 5% short of our goal,” the two wrote in the memo, according to Variety. 

“We have evaluated how our commercial team is organized and how we can work smarter and more proactively to deliver strong marketing solutions,” the memo read. “This will involve key changes in the people, processes and products of our revenue teams, including the creation of a unified Customer Solutions Group and a Sales Planning and Operations Group. All of this means that we will be parting ways with approximately 10% of our workforce.”

Also Read: Refinery29 to Partner With Neon to Expand Into Feature Films

The company will shift its focus to producing “premium, evergreen” video, an area where the co-CEO’s see “sustainable growth.”

“[We] will continue to produce more award-winning programming (both short and long-form) with less emphasis on the production of content with a short shelf life. While this type of content has been driving views, it has not yielded a great monetization strategy to justify the same level of continued investment.”

Also Read: Refinery29 Reporter Criticizes NY Times Over Diversity: ‘Stop Believing’ Your ‘Bullsh-‘

Despite expecting to miss its revenue goal by 5 percent, the company’s revenue has showed continued growth year over year, according to the joint CEOs. The memo also highlighted several areas the company has shown improvement in, including its international expansion and its direct-to-consumer business.

“It’s important to note that the overall performance of the business this year has grown in a tough environment and that we have successfully diversified our revenue streams. This includes international, which will be up over 100%; our originals business, which has grown 50%; and our direct-to-consumer business, which includes our award-winning live events and will be up over 300%. We expect all of these to be significant drivers next year,” it read.

This is the second round of layoffs at the company within the last 10 months. In December 2017, the company laid off 7.5 percent — or 34 employees — of its staff.

A rep for Refinery29 did not immediately respond to a request for comment.

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Refinery29 is laying off 10 percent — 40 employees overall — of its workforce as the company reorganizes its ad-sales team into a single “Customer Solutions Group.” The cuts were announced today via a staff memo from the company’s co-founders and joint CEOs Philippe von Borries and Justin Stefano.

“While our 2018 revenue will show continued year-over-year growth, we are projecting to come in approximately 5% short of our goal,” the two wrote in the memo, according to Variety. 

“We have evaluated how our commercial team is organized and how we can work smarter and more proactively to deliver strong marketing solutions,” the memo read. “This will involve key changes in the people, processes and products of our revenue teams, including the creation of a unified Customer Solutions Group and a Sales Planning and Operations Group. All of this means that we will be parting ways with approximately 10% of our workforce.”

The company will shift its focus to producing “premium, evergreen” video, an area where the co-CEO’s see “sustainable growth.”

“[We] will continue to produce more award-winning programming (both short and long-form) with less emphasis on the production of content with a short shelf life. While this type of content has been driving views, it has not yielded a great monetization strategy to justify the same level of continued investment.”

Despite expecting to miss its revenue goal by 5 percent, the company’s revenue has showed continued growth year over year, according to the joint CEOs. The memo also highlighted several areas the company has shown improvement in, including its international expansion and its direct-to-consumer business.

“It’s important to note that the overall performance of the business this year has grown in a tough environment and that we have successfully diversified our revenue streams. This includes international, which will be up over 100%; our originals business, which has grown 50%; and our direct-to-consumer business, which includes our award-winning live events and will be up over 300%. We expect all of these to be significant drivers next year,” it read.

This is the second round of layoffs at the company within the last 10 months. In December 2017, the company laid off 7.5 percent — or 34 employees — of its staff.

A rep for Refinery29 did not immediately respond to a request for comment.

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SPT Networks Group Implements Creative Services Consolidation, Triggering Layoffs

Another area of Sony Pictures TV, Creative Services, has completed the consolidation process under the major reorganization of the company’s distribution operations announced by SPT chairman Mike Hopkins in June, leading to the elimination of a h…

Another area of Sony Pictures TV, Creative Services, has completed the consolidation process under the major reorganization of the company’s distribution operations announced by SPT chairman Mike Hopkins in June, leading to the elimination of a handful of positions. As part of the June realignment, SPT brought several global networks functions under one centralized services unit based in Culver City under TC Schultz, EVP, Networks Operations, Programming & Strategy…

Hearst Communications Sheds Roughly 35 Jobs in Staff Shakeup

Hearst Communications shed approximately 35 jobs Wednesday as part of a company-wide reshuffling of their media brands, a person with knowledge with the situation confirmed to TheWrap.

The news went officially unmentioned in a lengthy press release from the company announcing the charges, which broadly focused on new leadership at their flagship properties.

“The complementary strengths of our offerings are what gives us our unique position in today’s highly competitive media marketplace,” Hearst Magazines president Troy Young said in a statement. “As we continue to evolve, we will combine editorial intuition with audience insights and data to create unique and purposeful experiences for our readers.”

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Among the more notable reveals included news that Jessica Pels would take over as editor-in-chief of Cosmopolitan, Kristin Koch would become executive director of Seventeen.com and the respective editorial chiefs of “Men’s Health,” “Women’s Health” and “Popular Mechanics” would assume additional responsibilities for digital content on their publications.

“These versatile editors are experts at creating content and experiences that engage and entertain audiences,” said Hearst Magazines chief content officer Kate Lewis.

“They understand their readers in a very profound way, and they’re passionate about producing stories in all formats, on all platforms, that inform, surprise, drive conversation and create a feeling of community,” she added.

The Hearst news comes amid a broader climate of contraction for the journalism industry.

Last year, Mic dropped 25 people in their “pivot to video.” That was followed by dozens of layoffs among CNN digital employees, 19 employees at Pop Sugar, and the all but total collapse of Upworthy. In April, Univision dropped 150 employees and scuttled plans for an IPO in one of the largest mass media exodus’ in recent memory.

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Hearst Communications shed approximately 35 jobs Wednesday as part of a company-wide reshuffling of their media brands, a person with knowledge with the situation confirmed to TheWrap.

The news went officially unmentioned in a lengthy press release from the company announcing the charges, which broadly focused on new leadership at their flagship properties.

“The complementary strengths of our offerings are what gives us our unique position in today’s highly competitive media marketplace,” Hearst Magazines president Troy Young said in a statement. “As we continue to evolve, we will combine editorial intuition with audience insights and data to create unique and purposeful experiences for our readers.”

Among the more notable reveals included news that Jessica Pels would take over as editor-in-chief of Cosmopolitan, Kristin Koch would become executive director of Seventeen.com and the respective editorial chiefs of “Men’s Health,” “Women’s Health” and “Popular Mechanics” would assume additional responsibilities for digital content on their publications.

“These versatile editors are experts at creating content and experiences that engage and entertain audiences,” said Hearst Magazines chief content officer Kate Lewis.

“They understand their readers in a very profound way, and they’re passionate about producing stories in all formats, on all platforms, that inform, surprise, drive conversation and create a feeling of community,” she added.

The Hearst news comes amid a broader climate of contraction for the journalism industry.

Last year, Mic dropped 25 people in their “pivot to video.” That was followed by dozens of layoffs among CNN digital employees, 19 employees at Pop Sugar, and the all but total collapse of Upworthy. In April, Univision dropped 150 employees and scuttled plans for an IPO in one of the largest mass media exodus’ in recent memory.

Related stories from TheWrap:

Lydia Hearst Stands by Husband Chris Hardwick: 'Nothing But Loving and Compassionate'

Patty Hearst Defends Son-in-Law Chris Hardwick With Resurfaced Chloe Dykstra Video

Fox Cancels Patty Hearst-Inspired Drama 'American Heiress' After Hearst Denounces Project

Elle Fanning in Talks to Star as Patty Hearst in Fox Drama, James Mangold to Direct

Disney Consumer Products And Interactive Media Unit Sets Minor Job Cuts

Disney’s Consumer Products and Interactive Media group has undergone a minor round of layoffs. The unit posted a decline in revenues and in operating income in the most recent quarter, as a result of lower licensing income and a drop in retail st…

Disney’s Consumer Products and Interactive Media group has undergone a minor round of layoffs. The unit posted a decline in revenues and in operating income in the most recent quarter, as a result of lower licensing income and a drop in retail store sales. It’s unclear how many people lost their jobs, but a source familiar with the division said the number is significantly below the threshold of 50 workers that would require a formal disclosure under federal law. The…

Sony Cuts Staff as TV Reorganization Continues

Sony Pictures TV on Wednesday laid off a number of employees at its programming, home entertainment, and worldwide distribution divisions as part of its on-going consolidation at the company.

The exact number of job cuts is unknown, but an insider confirmed to TheWrap that several people were let go. Sony declined to comment when contacted by TheWrap.

Sony Pictures TV Chairman Mike Hopkins said in June, in announcing the reorganization, that the company was going to be forced to “make some difficult decisions.”

In July the studio cut over two dozen staffers in its film marketing and distribution departments, as management takes marching orders from Sony Entertainment CEO Tony Vinciqerra to have leaner operations in film and TV.

Also Read: Sony TV Braces for Layoffs in Reorganization: Read Mike Hopkins’ Internal Memo to Staff

And in February the studio parted ways with three major TV executives. Keith Le Goy took over for Man Jit Singh, who exited as president of SPE Home Entertainment. Andy Kaplan stepped down as president of Worldwide Networks and Sheraton Kalouria his post as president and chief marketing officer for Sony Pictures Television.

In his June memo to staff addressing the changes in the TV business, Hopkins outlined three areas to be reorganized. He said that the company will combine global networks operations and worldwide distribution/home entertainment into a single business unit that will then operate in a territory management model that “brings together, under a single local leader, businesses that have been historically separate.”

“With this approach, we gain a more efficient structure giving regional leaders, along with their direct reports in each country, the ability to make smart, strategic business decisions, while keeping local consumers at the core of what we do,” Hopkins said.

Hopkins ended the memo by recognizing the changes “will be a significant adjustment.”

“We’ve had to make some difficult decisions but they were important moves as we reorient our business to align with the realities of today’s marketplace,” he said.

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Sony TV Sheds 3 Presidents in Major Shakeup

Sony Pictures TV on Wednesday laid off a number of employees at its programming, home entertainment, and worldwide distribution divisions as part of its on-going consolidation at the company.

The exact number of job cuts is unknown, but an insider confirmed to TheWrap that several people were let go. Sony declined to comment when contacted by TheWrap.

Sony Pictures TV Chairman Mike Hopkins said in June, in announcing the reorganization, that the company was going to be forced to “make some difficult decisions.”

In July the studio cut over two dozen staffers in its film marketing and distribution departments, as management takes marching orders from Sony Entertainment CEO Tony Vinciqerra to have leaner operations in film and TV.

And in February the studio parted ways with three major TV executives. Keith Le Goy took over for Man Jit Singh, who exited as president of SPE Home Entertainment. Andy Kaplan stepped down as president of Worldwide Networks and Sheraton Kalouria his post as president and chief marketing officer for Sony Pictures Television.

In his June memo to staff addressing the changes in the TV business, Hopkins outlined three areas to be reorganized. He said that the company will combine global networks operations and worldwide distribution/home entertainment into a single business unit that will then operate in a territory management model that “brings together, under a single local leader, businesses that have been historically separate.”

“With this approach, we gain a more efficient structure giving regional leaders, along with their direct reports in each country, the ability to make smart, strategic business decisions, while keeping local consumers at the core of what we do,” Hopkins said.

Hopkins ended the memo by recognizing the changes “will be a significant adjustment.”

“We’ve had to make some difficult decisions but they were important moves as we reorient our business to align with the realities of today’s marketplace,” he said.

Related stories from TheWrap:

Norman Lear Signs New Sony TV Deal, With Talks to Reboot 'All in the Family' and More Iconic Series

Top Sony TV Exec Keith Le Goy Was Sued for Sexual Harassment in 2014 by Former Assistant

Sony TV Sheds 3 Presidents in Major Shakeup

Sony’s Merged TV Distribution/Home Entertainment Division Hit With Layoffs

EXCLUSIVE: After two rounds of consolidation in the distribution operations of Sony Pictures TV, the merged division is undergoing layoffs. I hear staffers at the combined global networks/worldwide distribution/home entertainment unit were notified tod…

EXCLUSIVE: After two rounds of consolidation in the distribution operations of Sony Pictures TV, the merged division is undergoing layoffs. I hear staffers at the combined global networks/worldwide distribution/home entertainment unit were notified today that their positions are being eliminated. There are no numbers available on the size of the layoffs, though one insider described the situation as a “bloodbath.” I hear there are a number of Sony TV veterans of 20-plus…

Global Road Layoffs Begin, 60-Plus Staffers To Be Let Go – Update

EXCLUSIVE UPDATE, 11:30 AM: We understand that at least 60 U.S. Global Road staffers are to be let go in addition to at least five in the UK. That’s at least half the total workforce. The culls come from domestic theatrical, production and distri…

EXCLUSIVE UPDATE, 11:30 AM: We understand that at least 60 U.S. Global Road staffers are to be let go in addition to at least five in the UK. That’s at least half the total workforce. The culls come from domestic theatrical, production and distribution. Many workers have been told this is their last week, and none are due to get severance pay. Some are even being told today is their last day. Key senior execs are being kept on to steer what remains of the ship but the…

McClatchy Newspapers Lay Off Nearly 4 Percent of Staff in Cost-Cutting Move

The McClatchy Company will cut roughly 3.5% of their entire staff amounting to nearly 140 employees in a company-wide shakeup, the company revealed Tuesday.

McClatchy publishes dozens of newspapers around the country, including The Miami Herald, The Kansas City Star, The Idaho Statesman, The Fresno Bee and the The Charlotte Observer. A spokesperson for the company declined to issue a statement noting only that it was “a tough day.”

McClathcy President and Chief Executive Officer Craig Forman first revealed the news to employees in an internal memo, a copy of which was obtained by TheWrap.

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“While these actions are necessary to protect and further our future, they are painful and difficult decisions. Talented and passionate people who have dedicated their energy to our mission, colleagues we call friends and rely on everyday, will leave the company.” he wrote. “We thank you all for your commitment to McClatchy and to local journalism and wish you nothing but the best in your future endeavors.

Forman said that even though the company’s revenue remained “better than its peers,” the cuts were necessary in order to combat strong “industry headwinds.”

“This is not an unusual path in an ambitious transformation — the road is often filled with ups and down, and it’s seldom a straight line up,” he wrote. “While our digital revenue continues to grow, we still face significant print advertising revenue declines, and the recent newsprint tariffs don’t help.”

The McClatchy cuts are only the latest in a string of such actions legacy media operators have been forced to take in recent years.

Earlier this month, fellow publisher Tronc laid off dozens of staff from the New York Daily News over similar concerns. Employee upheavals also plagued the Los Angeles Times under Tronc before they were sold to billionaire Patrick Soon-Shiong. Under the hedge fund backed Digital First Media, the Denver Post has shriveled to less than 100 employees from a newsroom of around 250 several years ago.

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The McClatchy Company will cut roughly 3.5% of their entire staff amounting to nearly 140 employees in a company-wide shakeup, the company revealed Tuesday.

McClatchy publishes dozens of newspapers around the country, including The Miami Herald, The Kansas City Star, The Idaho Statesman, The Fresno Bee and the The Charlotte Observer. A spokesperson for the company declined to issue a statement noting only that it was “a tough day.”

McClathcy President and Chief Executive Officer Craig Forman first revealed the news to employees in an internal memo, a copy of which was obtained by TheWrap.

“While these actions are necessary to protect and further our future, they are painful and difficult decisions. Talented and passionate people who have dedicated their energy to our mission, colleagues we call friends and rely on everyday, will leave the company.” he wrote. “We thank you all for your commitment to McClatchy and to local journalism and wish you nothing but the best in your future endeavors.

Forman said that even though the company’s revenue remained “better than its peers,” the cuts were necessary in order to combat strong “industry headwinds.”

“This is not an unusual path in an ambitious transformation — the road is often filled with ups and down, and it’s seldom a straight line up,” he wrote. “While our digital revenue continues to grow, we still face significant print advertising revenue declines, and the recent newsprint tariffs don’t help.”

The McClatchy cuts are only the latest in a string of such actions legacy media operators have been forced to take in recent years.

Earlier this month, fellow publisher Tronc laid off dozens of staff from the New York Daily News over similar concerns. Employee upheavals also plagued the Los Angeles Times under Tronc before they were sold to billionaire Patrick Soon-Shiong. Under the hedge fund backed Digital First Media, the Denver Post has shriveled to less than 100 employees from a newsroom of around 250 several years ago.

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NBC News Hires CNN's Dylan Byers as Senior Media Reporter

NY Post Op-Ed Editor Calls CNN's Brian Stelter a 'Ridiculous Soulless Clown' in Twitter Spat

Chris Cuomo Boosts CNN's Primetime Ratings by Double Digits in First 2 Months

C-SPAN Reports Shooting Threat Against CNN's Don Lemon, Brian Stelter to FBI

AwesomenessTV Lays Off 50% Of Staff Following Viacom Acquisition — Updated

UPDATED to reflect layoff information reported to California’s employment department
Just weeks after touting its acquisition of AwesomenessTV, Viacom began handing out pink slips.
AwesomenessTV said it would fire 98 employees at the teen-focused…

UPDATED to reflect layoff information reported to California’s employment department Just weeks after touting its acquisition of AwesomenessTV, Viacom began handing out pink slips. AwesomenessTV said it would fire 98 employees at the teen-focused studio’s Santa Monica offices, or about 50% of its workforce, according to filing made with the California Employment Development Department.  The media company said would layoff most of the employees on or shortly after Oct. 15…

Layoffs Hit AwesomenessTV 3 Weeks After Acquisition By Viacom

Viacom will cut some of the staff at AwesomenessTV, just three weeks after media giant bought the millennial-skewing digital entertainment company.
“As we begin to integrate Awesomeness and streamline the organization within Viacom, a number of p…

Viacom will cut some of the staff at AwesomenessTV, just three weeks after media giant bought the millennial-skewing digital entertainment company.

“As we begin to integrate Awesomeness and streamline the organization within Viacom, a number of positions were impacted yesterday,” said a Viacom spokesperson. “We are grateful for the many contributions of each individual and continue to work diligently to ensure a smooth transition.”

It had already been announced that AwesomenessTV CEO Jordan Levin would depart after a transition period. The company would not say how many jobs were being cut, but an insider familiar with the situation told TheWrap it’s more than 20 staffers.

Viacom acquired the company last month in a deal that valued Awesomeness at a significant discount compared to its 2016 valuation of $650 million, a person with knowledge of the negotiations told TheWrap. Viacom did not share terms of the buyout in its announcement.

The company — which has targeted millennial and Gen Z viewers through an array of content across several social platforms, subscription-video-on-demand services, and thousands of YouTube channels — was integrated within Viacom Digital Studios, under Kelly Day. Day is the president of Viacom Digital Studios and former Chief Business Officer of Awesomeness.

Awesomeness has 158 million subscribers across several platforms, leading to about 300 million views each month.

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