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

HOT SPOT: Discover Asia In 2017 Rebrand
Singapore-based TMRRW escorts viewers through tour of continent.
‘Bones’ Says Final Farewell with Retrospective
Spot takes an emotional look at the past 12 seasons and explores why the show has lasted so long.
FYI Unveils 2017 Programming Slate
Network to offer mix of unscripted home, relationship, cooking and competition series.
Hulu Preps Summer Schedule
Streaming service to return two veteran series, three documentary films.
Pair of Princes Partner to Save Their World in ‘Kings of Atlantis’
Animation stars Cody and Joe have scored their own show on YouTube Red.
History’s ‘Road Hauks’ Takes a Ride Through the Past
Expert mechanics combine American icons with powerful off-road vehicles.
Apr 27
PromaxGAMES: The Summit 2017
Apr 27
PromaxGAMES Awards 2017
Jun 5
The Conference 2017
Jun 8
PromaxBDA Promotion, Marketing and Design North America Awards 2017
Jun 8
PromaxBDA Promotion, Marketing and Design Global Excellence Awards 2017
Jun 19
Station Summit 2017
Superestudio Advertisement Gamespot Advertisement