Univision-lays-off-200

Univision to Lay Off 6% Of Its Workforce

by Paige Albiniak  |  11.16.2016

Univision will lay off nearly 6 percent of its workforce — between 200 and 250 people — the company confirmed on Wednesday.

The trims are “in response to difficult times,” Isaac Lee, Univision chief of digital, entertainment and news, told The Washington Post.

“Constantly adjusting our scale and our processes is a reality of the business we are all in, and is not unique to us,” he said in a memo to staffers, as reported by Deadline. The cuts “come as we look to strategically bring together several distinct digital media companies into one powerful and nimble digital publishing entity, with many distinct passion points for many distinct, growing groups of readers, listeners and viewers.”

Univision saw a downturn in its third quarter, reporting an 8 percent net loss of $30.5 million on total revenue of $735 million.

Univision is restructuring as it tries to serve a younger audience. Last summer, Univision acquired Gawker Media, now called Gizmodo Media Group (GMG), for $135 million, getting the company in a sort of fire sale after it had to pay pro wrestler Hulk Hogan $140 million after posting without permission a sex tape that featured Hogan.

Univision is consolidating several acquisitions into the GMG, including former Gawker sites Deadspin, Jezebel, Gizmodo, Lifehacker, Kotaku and Jalopnik. Also being moved into the group are Fusion.net, the website of the millennial-focused TV network by the same name, and The Root, targeted at African-American culture.

Raju Narisetti — formerly of The Wall Street Journal, The Washington Post and News Corp. — is GMG’s chief executive. Katie Drummond, formerly of Bloomberg.com, has been named executive managing editor, Lee told the Post. Univision is still looking for an editor in chief for GMG, reports Deadline.

While the GMG isn’t likely to see layoffs, Fusion, which voted last week to unionize with the Writers Guild of America, could see some cuts. Lee told the Post that he had no objection to employees unionizing. Other cuts are expected to come from Univision’s business and editorial staffs.

READ MORE: The Washington Post, Deadline

[Image of courtesy of The Washington Post]

Tags:   Univision Isaac Lee
← Back

New from Daily Brief

Creative Review: The Collective @ LAIR
Director-driven studio has mastered the fine art of the co-branded spot.
HOT SPOT: IFC Integrates Geico Into 'Portlandia'
Not all TV production calls for sound effects, as this branded spot suggests.
Cast of SyFy's ‘The Magicians’ Reveals Big Magic Behind Season Two
At the ‘Hall of Magic’ in New York City, cast and crew talked about expanding the fan base and what’s in store for season two.
HBO’s ‘Last Week Tonight’ Season 4 Promo Channels ‘Game of Thrones,’ ‘Silicon Valley’
Late night host returns for fourth season on Feb. 12.
SyFy’s ‘The Magicians’ Bring More Magic, Have More Problems In Season 2
Fantasy series returns Jan. 25.
Líderes en Marketing para TV integran digital y lineal para atrapar a la audiencia en Latinoamérica
Campañas multiplataforma construidas al unísono desde el comienzo.
Feb 24
Creative Entrepreneurs
Mar 13
PromaxBDA Europe Conference 2017
Mar 14
PromaxBDA Europe Awards 2017
Apr 27
PromaxGAMES: The Summit 2017
Apr 27
PromaxGAMES Awards 2017
Jun 5
The Conference 2017
Superstudio Advertisement FOX Advertisement