Shulou(Shulou.com)11/24 Report--

CTOnews.com, Nov. 30, according to the Wall Street Journal, AMC Networks said it plans to lay off about 20% of its American workforce. On Tuesday, local time, the company announced that its chief executive, who had been in office for less than three months, had stepped down.

"We have identified the need to save resources now, which will involve a reduction in business, which unfortunately includes massive layoffs, affecting about 20 per cent of US employees," AMC Networks said in a statement.

As US users cancel pay-TV packages, AMC is trying to make enough money from its streaming services to make up for the continued decline in its cable business. CTOnews.com has learned that over the past 15 years, the company has created many TV series, including "Mad Men" and "Breaking Bad".

In addition, AMC Chairman James Dolan said in a notice to employees that the company originally thought that the loss caused by the cancellation of cable services would be offset by streaming revenue, but this is not the case.

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