Layoffs Planned at Disney's Maker StudiosMonday, June 2, 2014
Maker Studios will lay off about 10 percent of its workforce this week following the YouTube network’s acquisition by Walt Disney Co.
The cuts are not expected to affect upper management, but will likely be distributed throughout the roughly 400-employee Culver City company, according to Hollywood trade publication Variety, which first reported the layoffs on Monday.
Maker, which operates 55,000 YouTube channels garnering 5.5 billion monthly views, was acquired in March for $500 million and an additional $450 million in possible earn-out payments by the Burbank media and entertainment company.
Maker previously laid off a few dozen people last year and Disney’s own new media units have struggled. In March, Disney laid off 700 people at its web-based and interactive units with the bulk coming from the Playdom group, a creator of games for social media platforms.