Univision is continuing its downsizing with another wave of layoffs. Multiple sources say over 150 people from Fusion and Univision Digital lost their jobs yesterday and today.
Job cuts kicked off yesterday at Fusion and Univision Planeta, an environmental division that has been eliminated. About 40 positions were slashed.
Today’s round hit the digital team, shedding another 70 employees. According to a high-level source, the cuts affected Univision Noticias Digital (about 30), Univision Entertainment Digital (about 30), and Deportes (about 7). The numbers are approximations, according to the source.*
An insider says Univision network news director Daniel Coronell held a staff meeting today to address the situation. He warned this was the first round of cuts and that what was coming is “catastrophic,” with the next wave of layoffs expected in June. He told shell-shocked staffers Univision had to cut $300 million by eliminating programs and jobs.
According to the source, Coronell said all department heads had presented their own proposals to the Boston Consulting Group hired by Univision to review and streamline the company’s operations with the intent to minimize the impact. But that the consultants would make their own recommendations to CEO Randy Falco as to where cuts should be made. Falco will then relay them to the Univision Board of Directors, who will make a final decision.
A source tells Media Moves the “newsroom is in chaos” with panicked staffers wondering if they’ll be fired each day they come in to work.
Last month, Univision eliminated 20 positions across several business units, including Fusion, just days after the company scrapped its IPO and CEO Randy Falco announced his early retirement. Fusion Media Group (FMG) CEO Felipe Holguín and Fusion President and Chief Content Officer Daniel Eilemberg were among those ousted. A Wall Street Journal report in March indicated that the Boston Consulting Group recommended a 35% budget cuts for FMG.
A company spokesperson who confirmed the layoffs without addressing how many, issued the following statement:
“UCI is undergoing a multi-year transformation initiative as part of our efforts to navigate and prosper in today’s media landscape and remain an unwavering advocate and source of information for the Hispanic community, and the rising and diverse American mainstream. We are focused on challenging ourselves to pursue strategies that strengthen our competitive edge and best position us for the future. As part of this process, we have made the difficult decision to eliminate some positions across various UCI business units. We are taking steps necessary for our business to continue to thrive, but we will never compromise our duty and purpose to inform, entertain and empower our community, which is more important today than ever before.”
* Story updated 4/13 with layoff breakdown. Number of layoffs also were confirmed at over 150 by a high-level company source.