Summary:
Woven Digital, a technology firm, have made people redundant in order to "scale down" and then counteracted this move by "scaling up", having allegedly hired another 3 members of staff. The majority of these stuff who were "laid off" were working for the acquired company "HitFix" who specialised in the entertainment-news industry.
- just under 20 employees
- 110-120 employee pre-redundancy
- $100million funding raised in series A round in 2014
- this summer raised $18.5 million in a series B funding round
My personal opinion:
I think that this article just goes to show that not only does new and digital media have an effect on print and television broadcasting but it also has a direct effect on itself - it highlights the fact that really and truly, competition is high even on the digital side of things and that even in this industry, it is difficult to gain and retain a job.
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