Current Media, which was co-founded by Al Gore and Joel Hyatt, is cutting 80 staffers as it changes its programming strategy away from short-form video. BayNewser has the details:
Chief Operating Officer Joanna Drake Earl told BayNewser that the company’s fundamental mission hasn’t changed. They still want to create engaging and impactful content for young adults. But the moves, says a statement released by the company, are about allocating resources to “areas of the business believed to best position Current Media for continued long-term growth.”
As a result of the changes, 80 people are being let go today from the company’s offices in London, New York, Los Angeles, and San Francisco. About 300 people will remain on staff, Earl said.
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Three programs, “Current Tonight,” “Current Takeover” and “Current Exposed,” are being canceled as a part of the shift.
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