Disney’s Maker Studios Hit with Layoffs

maker-studios-featured-image_edited-1 (1)

Maker Studios, which Disney acquired in 2014, is undergoing downsizing. In a statement, the internet video company said, “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.”

Disney paid $500 million for the shortform video producer, with an additional $450 possible if the company met financial targets. The company missed these targets while also seeing several transitions such as Courtney Holt replacing Ynon Kreiz as head of the unit. The division also moved from corporate oversight under former CFO Jay Rasulo to being part of Disney’s Interactive unit.

It is unknown how big the layoffs are or where the company will be focusing its efforts in the near-term.