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Media

More Layoffs at Univision

The cutting at Univision continues. The company laid off more than 150 people on Thursday, across the company, including at the beleaguered Fusion Media Group. These cuts follow the layoffs of about 20 people last month. Earlier this week, a top executive in Fusion, Gizmodo Media Group editor in chief Raju Narisetti, announced he was stepping down. The cuts follow Univision’s announcement earlier this year that it wouldn’t pursue an IPO. One consulting group had recommended that Fusion cut around 35% of its workforce, according to this story. But the cuts also suggest Univision is retreating from its lavish plunge into digital media in recent years, which saw it buy up online properties like The Onion and the Gawker group  of sites. The company is still carrying billions in debt left over from its leveraged buyout a decade ago. Without the funds from an IPO, cost-cutting makes sense. The real question is what happens to the digital media properties.

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