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CBS Reduces Staff in Network, Syndication Groups

Y2kTheNewOldies

Y2kTheNewOldies

CBS Corp. has initiated a round of buyouts and layoffs. The staff reductions, which sources tell Variety number fewer than 50, are focused primarily in the broadcast-network and syndication units. The cuts have taken place over the last month.

The moves at CBS come as the company continues to shift toward digital distribution of its programming with the growth of CBS All Access as well as Showtime’s standalone digital service and ad-supported news streaming service CBSN, as well as the forthcoming launch of an ad-supported sports streaming product. Speaking at Variety‘s Innovate summit last month, CBS Corp. CEO Leslie Moonves said that the company has designs on a streaming entertainment-news service based on the long-running program “Entertainment Tonight.” Moonves also revealed at the summit that All Access now has more than 2 million subscribers, and that it and Showtime’s OTT product boast more than 4 million subscribers combined.
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http://variety.com/2017/tv/news/cbs-staff-reduction-1202633255/

Article mentions a shift towards digital distribution is the reason for this move
 
As we've been saying, digital makes less money than broadcast. Consider their streaming service has 2 million subscribers, but it doesn't make up for losses on the broadcast side. As companies shift more to online distribution, budgets will be cut.
 
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