Maker Studios cuts staff

Disney-owned multi-channel network (MCN) Maker Studios is laying off around 30 employees as it looks to make “strategic adjustments.”

The MCN did not give further reasons for the cuts or an exact number of staff being let go, but it is understood that around 30 employees could lose their jobs.

“Maker Studios’ business is constantly evolving and, after careful thought, we have decided to make some strategic adjustments – reducing staff in some areas while still actively hiring in others – to best align with the go-forward strategy of the company,” Maker said in a statement.

Maker was bought by The Walt Disney Company for US$500m in 2014. The final payout for the firm could have been up to US$950m but it failed to reach that figure and eventually had a final price of US$675m.

Several execs have departed Marker since its acquisition, including former CEO Ynon Kreiz, who was replaced by Courtney Holt.

Maker has been regarded as one of the stronger-performing MCNs in recent times while others, such as YouTube network Machinima, have had to make several staff cuts.