In today’s weekly roundup, America Closed highlights a number of layoff stories that gained serious online traction this week. Both traditional and online media companies continue to struggle and cut jobs. ESPN has been hit with rising fees and an exodus of subscriber, while ad revenue at Buzzfeed and Time Inc. (NYSE:TIME) continues to slide. The loss of a Medicaid contract in Delaware led to mass layoffs at UnitedHealth Group Inc (NYSE:UNH) and Autodesk, Inc. (NASDAQ:ADSK) cut 13% of its workforce as the company restructures the way it sells its software. These are just some of the top layoff stories from this week.
Sports network ESPN, owned by Walt Disney Co (NYSE:DIS), is laying off around 150 people as it continues to shift to digital media. John Skipper, president of ESPN, made the announcement to staff on Wednesday. Read on to know more.
BuzzFeed‘s layoffs for 2017 added about 100 more people to the year’s total. The Internet media company plans to reduce its U.S. staff by about seven to eight percent, as it will likely miss its revenue goals for 2017. Read more here.
Autodesk, Inc. is laying off 1,150 employees, or about 13% of its workforce. The software company announced restructuring plans aimed at shifting to selling its products on a subscription basis instead of charging for perpetual software licenses upfront. The Autodesk layoffs also come as the company has also been focusing more on cloud computing services. Read more about it here.
UnitedHealth Group Inc layoffs led to 138 employees being cut from its office near Newark, Delaware, due to a Medicaid contract loss that forced the company to reduce its presence in the state, hurting an already struggling Delaware.
UnitedHealth also cut jobs in Arizona early this month. The total UnitedHealth Group layoffs in November number 519, with 381 Arizona job cuts. Find out more here.
The layoffs at Time Inc. continue to mount as hundreds of jobs have been shed from the company since the beginning of the year. The media company finds itself grappling with a new economic landscape, where Time’s print advertising revenue has fallen sharply with readers transitioning from traditional print media sources to looking for news and magazines online. Read more here.