Layoffs began hitting premium programmer Showtime Networks Inc. Monday.
Sources said as much as 10 percent of SNI's work force, or some 70 employees,
would receive pink slips.
The cuts will come across all company disciplines, according to
sources.
Multichannel News reported in its May 5 edition that industry
consolidation and the sluggish economy were about to take their toll at
Showtime.
Rival premium network Home Box Office felt the blade last week, as nearly 20
affiliate-sales employees were laid off.
Showtime executives would not immediately comment about what departments
might be impacted or specific executives who might lose their jobs.
In a prepared statement, the company said, "As you know, SNI has had
tremendous subscriber growth and generated significant earnings over the past
five years. After conducting a strategic review of our business, we have
concluded that there are efficiencies to be gained and opportunities to
streamline our organization."
The statement continued, "While it is a very difficult decision, it allows us
to focus our resources and organize the company for continued
growth."
Sources said the cuts are across the board.
Industry consolidation, the use of new and more efficient technology and the network's move toward more original series and less original films led to the cuts, which effected such areas as creative services, finance, programming, marketing and affiliate relations, according to sources.
