In the last year, the streaming world has been in a pickle. Juggernaut TV media companies are struggling with their declining cable businesses, and some are trying to stem the damage by separating more profitable studio and streaming businesses from their cable properties. As the disruption and restructures remake the companies from the inside out, it also means many of these companies are shedding employees. We took a look at which companies have made the most dramatic changes over the past 12 months. Ruffled feathers: Peacock’s parent company revealed a plan late last year to move its cable networks, including MSNBC and CNBC, to a spin-off company that’s been named Versant, and since that announcement, has gone through a few rounds of layoffs and restructures. In January, Comcast subsidiary NBCUniversal underwent a restructure, during which unscripted head Corie Henson and Peacock’s president, Kelly Campbell, departed the company. NBCU initiated another round of layoffs in April, cutting dozens of jobs in divisions including streaming and TV. In February, MSNBC fired host Joy Reid and cancelled several other of its news programs. Calling it splits: When it comes to the cable business, Warner Bros. Discovery (WBD) also knows a thing or two. The company executed a $9+ billion writedown in August after continuously hemorrhaging cable TV subscribers. More recently, WBD followed Comcast’s lead and announced that it will split its cable business from its studio and streaming units into a new company that will be headed by WBD CFO Gunnar Wiedenfels. (There’s been some speculation that WBD may be looking to sell off its cable business entirely.) After laying off nearly 1,000 employees last summer, CNN laid off another 200 people in January as part of a restructuring aimed at bolstering the digital side of its business, and WBD parted ways with “under 100” employees on the cable side in June, per Deadline. Read more here.—JS |