AMC Networks to lay off 10% of staff
November 19, 2020
AMC Networks, the US cable entertainment company, is letting go 10 per cent of its staff, amounting to nearly 100 positions, in a reorganisation designed to streamline the company’s linear and streaming operations.
CEO Josh Sapan announced the cuts during a virtual town hall, according to Deadline, saying a strategic evaluation of the company had focused on an overhaul of its structure to emphasise areas with the greatest growth potential as streaming becomes more central to the entire industry.
During the company’s third-quarter call earlier this month, Sapan said that increasing revenue from subscription streaming services was becoming one of its fastest areas of growth.