Univision’s week-long shake-up ended yesterday with a round of layoffs. According to the company, 20 positions were eliminated across various of its business units, including Fusion.
Fusion Media Group’s CEO Felipe Holguín and Fusion President and Chief Content Officer Daniel Eilemberg are among those ousted. A spokesperson confirmed they’re no longer with the company and issued this statement about the company cuts:
“As the media industry rapidly evolves, we are focused on continuing to transform UCI for the future. As part of this process, we have recently taken steps to realign parts of our operations and reallocate resources to invest in growth that will best serve our audiences, community and partners.”
Holguín, who joined Univision as EVP, Digital and News Operations in 2015, became FMG’s CEO a year later.
Eilemberg started at Fusion as SVP and Chief Digital Officer in January 2014.
This has been a rocky week for Univision. On Tuesday, the company notified it backed out of the IPO and replaced CFO Frank López-Balboa with Peter H. Lori. On Wednesday, CEO Randy Falco announced he was retiring at the end of 2018, kicking off a search for Univision’s new company leader.
Univision has executed a series of layoffs over the past year in different divisions, including Fusion.
Sources told the Wall Street Journal that Univision has hired a consulting company to review its position and where to cut $200 million.