Thndr Claps » U.S. Claps » Entertainment 🎭 » AMC planning layoffs 📺
The ClapAMC Networks (NASDAQ:AMCX) is planning to make significant layoffs after CEO Christina Spade steps down.
WhatThe decision comes as the cable network struggles with an evolving ad market and more modern competitors.
Spade spent only 3 months as CEO before stepping down from her role in the company.
The layoffs are expected to impact around 20% of the company’s US workforce.
So WhatAs more customers turn to streaming services over cable television, the company has seen a 16% YoY decrease in revenues during Q3 2022.
Now WhatThe layoffs are expected to begin within the coming days. In addition, the company is looking to fill in the CEO role, most likely with an internal candidate.
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