Major Network Trumped: ABC Laying Off
The good news continues for Conservatives. It looks like another media giant has fallen on hard times.
But before we get to them, remember not long ago CNN was forced to lay off many of its employees.
Sure. And I’m certain moral was high when CNN began the layoffs in 2014.
Layoffs have hit CNN headquarters in Atlanta today. TVNewser has learned the network has cut 16 employees from the Image and Sound unit. This includes video editors and photojournalists. The division employs 450 people. An insider tells us at least 160 positions are set to change in some way due to new technologies.
However, they weren’t finished, as there was the CNN layoff rumor mill at Reddit:
I work at Turner, and I’ve heard through several sources that more layoffs will be happening soon. Management is being secretive about what is going on. Has anyone heard about the extent of this round?
Things haven’t gotten any better for CNN, as President Trump hasn’t and won’t let up. At least not until CNN stops reporting fake news.
The good news is ESPN has joined fray. The network now challenges the president with one of its news anchors who is currently serving a suspension. Her lunacy took some of the spotlight off CNN, though only temporarily.
My bet is ESPN will soon feel the negative impact of their decisions in their balance sheet. For now, we will have to wait and see. But for ABC, we know what’s happening.
As many as 200 employees will possibly be affected by the layoffs at ABC. The restructuring could include bigger movies from Disney, and the possible sale of ABC.
Deadline reported on the staff reductions. Employees across Disney and ABC properties will be impacted. An ABC source shared that at least 40 of its employees on the East Coast will be affected, as will additional employees in the west.
Is ABC on the chopping block?
Other ABC sources told Splinter that it’s widely rumored “the belt-tightening could be tied to a prospective sale by [ABC’s] corporate parent [Disney].”
The industry is changing. Competition from streaming services and less revenue from ads forced Disney’s broadcast division to look for a 10 percent reduction in its annual costs. Generally when an acquisition is to occur, companies begin getting rid of non-essential persons. This round of layoffs involves primarily non-content and operational functions.
While ABC expects layoffs to impact 200, according to The Wall Street Journal Disney seeks to reduce employees in its broadcast division by roughly 300 people and to cut out $300 million in costs.
ABC cut Shonda Rhimes, a producer with a successful resume of hit shows, including “Grey’s Anatomy,” “Scandal,” and “How to Get Away with Murder.” When a company cuts people like Rhimes, they aren’t cutting fat, but muscle.
Rhimes is reportedly moving to Netflix.
Regardless, the media continues to suffer. And a big reason is because of their challenge to Trump and Trump voters.