In the latest round of belt-tightening to hit WarnerMedia, subsidiary Otter Media’s online video network Rooster Teeth has laid off 13% of its total workforce, or about 50 employees
CEO Matt Hullum relayed the news to the staff Thursday, calling it “a tough day … unlike any moment of organizational change we have experienced together.”
Otter, owner of digital brands including Crunchyroll and Fullscreen, began as a joint venture between AT&T and the Chernin Group. AT&T last yearand positioned its assets inside WarnerMedia, where they will join those feeding the soon-to-launch streaming service HBO Max. As discussed during your department meetings, our managers have adjusted their teams to meet the needs of our future. Our industry is evolving rapidly, and we have to evolve with it if we want to succeed. As we begin a new chapter, we have the opportunity to focus on what we do best: creating great content for our community and partners, supported by key lines of business including advertising, distribution, memberships, events, and e-commerce.
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