AM I NEXT? NO LOVE AT AMC NETWORKS

New York, New York-based AMC Networks, an entertainment company providing streaming and cable content, has announced the abrupt departure of its CEO and a major reduction in force.

Approximately 20% of the company's workforce, or 370 employees, is impacted by the layoffs -- while the departing AMC Networks CEO, Christina Spade, is entitled to $10.5 million+ plus severance in addition to various awards and restricted stock units after her 3-month tenure.

According to Board Chairman James Dolan, “It was our belief that cord cutting losses would be offset by gains in streaming. This has not been the case. We are primarily a content company and the mechanisms for the monetization of content are in disarray. We have directed the executive leadership of AMC Networks to undergo significant cutbacks in operations. These will include a large-scale layoff as well as cuts to every operating area of AMC Networks.”

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. We see good people being laid off through no fault of their own. 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 CALISTO MEDIA

Oakland, California-based Callisto Media, an independent non-fiction press that exploits data mining of consumers to generate marketable content, has announced another round of layoffs in addition to temporarily closing the company's physical offices in both New York and in Emeryville, Calif.

In this second round of layoffs following the dismissal of 35% of its workforce, estimated at 140 employees in July 2022, the company is laying off an estimated 200 additional employees.

The decision is driven by difficult economic conditions, rising interest rates, and the difficulty in raising venture capital or finding outside investors.

According to CEO and co-founder Benjamin Wayne, “Callisto, due to the strength of its annuity and its economic model, has the ability to become profitable, and we have the support of our existing investors to provide a very small amount of cash to bridge to that profitability. But it requires that we take swift and decisive action to restructure our costs and our cash flow as an organization.”

Its business model is not unique as they harvest data from the internet, re-writes the content using staff and ghostwriters into an attention-getting keyword-laden digital book with an attractive cover, and markets it to generate a revenue stream. In essence, they have created an assembly line for what has been primarily a mom-and-pop business filled with grifters.

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. We see good people being laid off through no fault of their own. 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 CAMEO

Chicago, Illinois-based Cameo, a creator of customized video messages from celebrities, actors, musicians, and athletes, has announced a restructuring.

The restructuring effort impacted 25% of Cameo's workforce or approximately 87 employees, including chief technology officer Rob Post, chief product officer Nundu Janakiram, and senior vice president of marketing Emily Boschwitz.

According to a statement from Cameo CEO Steven Galanis,…

“To support both fan and talent demand during the pandemic lockdowns, Cameo’s headcount exploded from just over 100 to nearly 400. We hired a lot of people quickly, and market conditions have rapidly changed since then. Accordingly, we have right-sized the business to best reflect the new realities."

“The decision to reduce our headcount was a painful but necessary course correction to ensure that we regain focus as well as achieve the agility to navigate new challenges, the ability to optimize our financial resources, and time and space to nurture newer business segments like Cameo for Business, Represent and web3 that we believe will be as big as the core business that put us on the map. We are bullish on the intermediate and long-term future of Cameo, and the actions we have taken to balance our costs with our cash reserves will best position the company to take full advantage of those growth opportunities.”

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?