The internet streaming service that came close to disrupting broadcasting and cable TV as we know it, now says it is laying off most of its staff.
Aereo spokesperson Virginia Lam told BostInno.com in an email, “In an effort to reduce costs, we made the difficult decision to lay off some of our staff in Boston and New York. We are continuing to conserve resources while we chart our path forward. We are grateful to our employees for their loyalty, hard work and dedication. This was a difficult, but necessary step in order to preserve the company.”
The TV-on-the-Web startup plans to cut the 43 Boston jobs and close down as of Nov. 12, according to the letter. Laid-off employees will receive “a modest severance,” CEO Chet Kanojia said in the letter to employees.
AdvertisementThe shutdown comes after Aereo’s loss to broadcasters in the Supreme Court in June and repeated, but failed, attempts to relaunch its online streaming TV service in the following months. Its service has been off the air since shortly after the Supreme Court ruling, meaning Aereo hasn’t had a revenue stream for months.
In a June, the US Supreme Court ruled against the internet streaming service, siding with broadcasters who thought the service violated copyright laws.