• Wed. Sep 21st, 2022

Media layoffs impact gaming news, podcast and entertainment companies – Axios

ByWikafever

Sep 20, 2022

Media layoffs continue to spread, with several companies enacting or announcing significant layoffs over the past week.
Why it matters: Media companies began cost-cutting measures earlier this year citing macro fears of an economic downturn, which persist, and now public companies like Netflix have made cuts due to continued concerns from shareholders.
Driving the news: Over the last week, several gaming news companies were impacted by layoffs, along with a podcast company and two entertainment giants.
What they're saying: "While much of the country only worries about a recession, major media companies are cutting jobs or consolidating. Their stock prices have collapsed," Bloomberg's Christopher Palmeri wrote.

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