Layoffs Coming to Maker Studios

Maker Studios is conducting a round of layoffs, THR has confirmed. 

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The Culver City-based YouTube multichannel network is handing out pink slips to 10 percent of its about 380 employees. 

A company spokeswoman declined to comment on the layoffs but did issue the following statement. "Maker’s business is constantly evolving, and we routinely reassess our internal resources and make strategic adjustments, reducing staff in some areas while actively hiring in others."

Disney completed its up to $950 million acquisition of Maker in May, but a source close to the company says that the deal has not resulted in layoffs at the company, which remains independently operated with CEO Ynon Kreiz reporting to Disney CFO Jay Rasulo. 

It's unclear which departments will be affected by the layoffs, but it doesn't appear that Maker is looking to reduce its head count. The company currently lists about two dozen open positions in Los Angeles and New York on its website.

One division of Maker that has been in flux is Blip, the video distribution platform that that the company acquired in 2013. Maker unveiled its own streaming platform, Maker.TV, at the NewFronts in May, and the service has been sending out notifications to some users that their accounts are being shut down. But Maker SVP technology Jeff O'Connell told TechCrunch on May 29 that the company is not closing Blip, just focusing its library. 

This story first appeared on THR.com