Univision Communications, which is the parent company for a number of major television channels as well as news sites, will lay off from 200 to 250 employees as part of its restructuring company wide, reported a national newspaper on Wednesday.
The job cuts represent 6% of the workforce for the media giant, stated the report.
In an interview, chief news, digital and entertainment officer Issac Lee said the latest changes come in response to tough and challenging times. During this year’s third quarter, the company suffered a loss of $30.5 million.
Univision Communications is the owner of the popular television channel Univision, which is a Spanish language channel.
It also owns Fusion Media Group the home of a number of news sites in English that includes Fusion.net, a cable channel, The Root a new site that is African-American focused, Gizmodo Media Group, known previously as Gawker Media and Onion Inc, the producer of The Onion.
Univision Communications through a statement said in a broader effort in an attempt to streamline its operations, it eliminated various positions in a number of areas.
During the next few months, the company will be adding other new positions that will support areas of strategic growth that will give the company a better position to serve the diverse audiences it has across platforms and to meet all the needs of our different partners.
Univision is planning to bring Fusion and The Root under its Gizmodo umbrella indicated a letter from Lee, who happens to be the CEO at Fusion Media, to the staff of Fusion about all the latest changes.
Most of the job cuts will take place at Fusion.net and affect both editorial and business employees, confirmed a spokesperson for Fusion Media.
No Onion Inc or Gizmodo Group employees had their jobs cut as part of the layoffs said the spokesperson.
The job cuts and restructuring have been made to avoid duplication following the acquisitions of the company of a number of large sites. Fusion Media has acquired 40 new sites of Onion, Inc last January for $200 million and purchased the sites to become Gizmodo Media during August for over $135 million.
This shakeup comes after a successful union push at Fusion. The editorial staff for Fusion voted last week overwhelmingly in favor to unionize with the country’s Writers Guild of America after management’s prolonged resistance to it.