Los Angeles, California-based Fox Sports Media Group, a sports-oriented content creator, distributor, and media outlet, is continuing a restructuring effort that was originally announced prior to the COVID-19 pandemic. Approximately 50 to 100 employees are affected by layoffs to "restructure and streamline" operations.
According to a company spokesperson, "As part of Fox Sports’ commitment to become a more efficient organization, we are taking steps to streamline our business. As a result, today we announced the restructuring of several positions."
This move comes after requests for on-air talent and producer salary cuts and the layof of personnel related to poorly-rated programs.
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?
AM I NEXT? DANGER: THE TRADITIONAL MEDIA MODEL IS BROKEN
Traditional media is dying as general circulation newspapers and magazines lose their audience to digital platforms that offer immediacy and near-infinite variety. The days of the major programmed radio and television media, including cable are being impacted as consumers select à la carte programming instead of overpaying for unwanted content or hit-or-miss over-produced content.
Even the daily news has given way to a form of infotainment where facts and commentary are mixed and muddled to attract an audience.
Each and everyday consumers are cutting the cord.
Advertising has also changed from the analog to the digital realm and the largest platforms are awash in cash. Unfortunately, it is far easier to jigger audience numbers and artificially inflate the audience of digital media which is now impacting those who purport to sell "verified" eyeballs.
We are entering an era of voice-controlled smartphones and dumb televisions which simply display anything that is cast to them over a fast internet connection.
The old problems of program discovery, separating desired programs from background noise is still problematical.
However, one of the biggest changes is in consumer habits, with a very large segment of the audience preferring to split their attention between content and performing another task. Audiobooks that require a certain amount of concentration are giving was to easy-to-listen summaries and podcasts.
Even Instagram and YouTube influencers are making serious money without the need for corporate involvement or a major investment in content production infrastructure. Witness podcaster Joe Rogan's exclusive contract with Sweden-based Spotify, the music streaming service, which could be worth up to $100 million depending on Rogan's performance metrics.
While corporate interests are trying to develop proprietary platforms and capture valuable content, the game has changed and employees of traditional media channels and content producers should maintain their vigilance lest they are disintermediated from their personal income stream.
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?
AM I NEXT? NO LOVE AT VIACOMCBS (9/13/21)
SEPTEMBER 13, 2021 WARNING OF ANOTHER RESTRUCTURING UNDER NEW MANAGEMENT
In response to a management shakeup, ViacomCBS Inc has announced they will be restructuring the operations of its Paramount Pictures movie and television production unit.
Under the new structure, the movie and television arms will be operated as separate entities and concentrating on producing content for the company’s cable and streaming networks.
NOVEMBER 21, 2020 — 100 EMPLOYEES TO BE LAID OFF COMPANY-WIDE
Restructuring and cost-cutting continue at the combined companies. Targeted are 100 employees, including corporate, finance, and advertising sales positions, primarily within the CBS Entertainment divisions.
Layoffs will be continuing as the company hopes to achieve $750 million in savings. At least 500 employees have been laid off since the merger.
APRIL 23, 2020 — Original post…
New York, New York-based ViacomCBS, the media conglomerate, has announced that it will be continuing to reduce operational costs by laying off freelance contract employees while retaining full-time company employees. However, that is not a guarantee that full-time employees will not be affected as the economy continues to decline and the streaming competition continues to increase.
While the company declines to provide exact numbers, it is believed that hundreds of per-project freelancers may be involved nationwide.
A company spokesperson noted, "Like many businesses, COVID-19 has had an unprecedented effect on our industry. With so many of our productions on hold for the past month and into the foreseeable future, we made the difficult decision to release a number of freelance and project-based employees, particularly in production while the shutdown is in place.”
To be noted, a number of full-time employees had already been laid off as the company struggled to eliminate the position and operation redundancies during the Viacom-CBS merger. It appears that this reduction in force was halted as a response to the COVID-19 pandemic, but will, in all likelihood, resume once the company returns to full operational status.
And it is not known how many of these layoffs were initiated when California signed AB-5 into law that forced companies to reclassify freelance workers as company employees and eligible for company benefits.
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?