There have been layoffs at Current Media, the cable network co-founded by former U.S. Vice President Al Gore. A statement from Current put the number of layoffs at about 60 positions, with 30 more to be refilled, the company said in a statement. That’s less of a hard hit than the 20 percent cuts that a source close to Current hinted to CNET News on Tuesday. The statement read: “Approximately 60 positions have been eliminated in the company’s three U.S. offices, and approximately 30 new positions created,” the statement read. “Many of those whose positions were eliminated have been placed in the new positions. Current will have approximately 410 employees (after these staffing adjustments).”
A source told CNET News that VC2, the “Viewer Created” or user-generated content division of Current, was hit particularly hard by the layoffs. “As part of the impending transition at Current TV, one source says the company is going to drop its shorter (user-generated content) videos in favor of the more traditional 30-minute programs that have long dominated television programming across all channels,” David Weir, an analyst at CNET News sister site BNET, reported on Monday night.
The source also said additional layoffs would be coming in January, which a Current representative denied.
Current had announced less than a day ago that it had partnered with the Canadian Broadcasting Corp. to bring its network to Canada. Current’s plans for an initial public offering are on hold, employees have told CNET News. The company filed for an IPO in January.
Approached outside the company’s San Francisco headquarters, one laid-off Current employee said that she hadn’t seen it coming. “Not only was this uncalled for, but there was continuous deliberation during the last two or three months,” the former employee said. “Every meeting we’ve had with the VP of our department has been a lot of ‘Don’t worry, your positions are secure.’ And that has been repeated for the last two to three months.”
Layoffs hit Al Gore’s Current Media | The Social – CNET News
