Machinima Lays Off 42 Employees in Latest Round of Cuts
Warner Bros. might be coming in for an investment, but Machinima has just laid off 42 employees in what it calls a “restructuring in and around its sales organization.”
This is the third time in the past year-and-a-half that Machinima has laid off a sizable chunk of its workforce. Last September, the company, which operates a YouTube network for gamers and geeks, laid off 22 employees. In December 2012, Machinima made a similar cut.
This is all in addition to a series of executive departures at the company since last fall. Top executives including co-founder Philip and EVP of network programming Aaron DeBevoise, COO Nanea Reeves, and VP of global brand strategy Seth Bardelas have departed in the past few months.
Current Machinima chairman and CEO Allen DeBevoise* is also close to vacating his CEO seat.
Here’s the full statement Machinima released to the press:
Tags: Allen Debevoise, Gamers, Machinima, MCN, youtube
“Machinima, Inc., the number one global video entertainment network for young males, today announced a restructuring in and around its sales organization in an effort to create greater focus internally on selling creative ad solutions and branded entertainment, while better leveraging its longstanding partnership with YouTube to drive media sales. In connection with this, the company is releasing 42 employees.”