AMC Networks Sheds 5% Of Global Workforce Via Voluntary Buyouts

Core Insights - AMC Networks is transitioning from linear TV to streaming, announcing a 5% reduction in its global workforce of 1,800 employees through voluntary buyouts [1][2] - The company reported mixed quarterly results, with advertising revenue down 17% and streaming revenue up 14% [1][2] - CEO Kristin Dolan emphasized the importance of this transition, describing the quarterly performance as a key milestone in becoming a global streaming and technology-focused content company [2] Company Overview - AMC Networks operates several cable networks including AMC, IFC, Sundance TV, We TV, and BBC America, along with niche streaming services such as AMC+, Shudder, and Acorn TV, totaling 10.4 million subscribers [3] Industry Context - The downsizing at AMC Networks reflects a broader trend in the entertainment sector, with other companies like Paramount, Warner Bros. Discovery, and Disney also implementing significant layoffs [4] - The impact of artificial intelligence advancements is leading to job cuts in various sectors, including Big Tech, with Amazon recently announcing a reduction of 14,000 corporate employees [5]