Machinima Makes Staffing and Programming Cuts Following Latest Funding
Fresh off $24 million in new funding from Warner Bros. Entertainment and other existing investors, Machinima is also getting leaner. The company, which runs one of the largest networks on YouTube, has laid off 13 full-time employees.
Its the third round of cuts at Machinima in the last two years, and the first under CEO Chad Gutstein.
The focus this time around is on the production side, as the layoffs are tied to channels and programming that Machinima is shutting down, including Machinima Respawn, and “Ten FTW.”
“As Machinima positions itself for the future, we must focus resources toward high-growth opportunities,” said a spokesperson for the company in a statement. “Toward that end, today Machinima released 13 production staff associated with Respawn, TFTW, and certain shows on Machinima LIVE as this content was simply not delivering the monetization that supports our path to profitability.”
News of the layoffs and cancellations comes a few weeks after the hosts of “Inside Gaming,” one of the network’s most popular channels/series, left en masse.
Machinima hopes to fill the void with a fresh slate of content, which it plans to unveil during its first official Digital Content Newfront in the spring. “Machinima is in development on its expanded 2015-16 original programming slate, details of which will be unveiled at its Newfront presentation on May 4,” added the spokesperson.
Meanwhile, the company is looking to hire in other departments, with 15 current openings for jobs “associated with” programming, talent development, business intelligence, sales, marketing, product development, and engineering.Tags: gaming, Layoffs, Machinima, MCN