Oprah Winfrey Network Lays Off One-Fifth Of Staff [View all]
LOS ANGELES (AP) — Oprah Winfrey's struggling television network, OWN, said Monday it is laying off one-fifth of its workers and restructuring its operations in New York and Los Angeles.
The decision to let 30 employees go is a "tough" one, but the economics of a start-up cable network didn't fit with OWN's cost structure, Winfrey said in a statement.
"As CEO, I have a responsibility to chart the course for long-term success for the network. To wholly achieve that long-term success, this was a necessary next step," Winfrey said.
The responsibilities of the laid-off workers will be distributed among people with the network and its venture partners, Discovery Communications and Winfrey's Harpo Studios, according to OWN.
Rosie O'Donnell's Show On Oprah's Network Cancelled After Just Five Months
Read more: http://www.businessinsider.com/oprah-winfrey-network-lays-off-one-fifth-of-staff-2012-3#ixzz1pbzoPd2O
= new reply since forum marked as read