AMC Offers Buyouts to 200 Staffers in Budget Cut Pressure
AMC Networks has alerted staffers that it is looking to cut around 200 positions through buyouts.
While the size of the package is unknown to those who have been at the company for at least 10 years, the cuts would represent roughly 6% of the workplace and are strictly voluntary for the time being.
AMC boosted outlays for original programming but without clear returns in ratings. As a result, pressure has been mounting. Wall Street has been concerned for some time about the company's potential, significantly regarding The Walking Dead's ageing length. AMC's stock has declined nearly 24% this year.
The network's four other dramas of the year have all under-performed despite impressive critical reception for the most part, with Better Call Saul falling short of its season 1 ratings highs and Preacher opening under what the network would have liked.
AMC's Q2 financial results will be released on August 4.
Source: Deadline
