Shares of AMC Networks slid in Tuesday trading after the media company announced the surprise departure of its chief executive – and said that it plans to conduct layoffs that could affect roughly 20% of its employees:
Shares of AMC Networks Inc. slid in Tuesday trading after the media company announced the surprise departure of its chief executive and said that it plans to conduct layoffs that could affect roughly 20% of its employees.
“No rationale was given by the company for the exit, which leaves any number of potential reasons, both personal and operations-related,” Cowen & Co. analyst Doug Creutz wrote in a note to clients shortly after the announcement. “We expect this news to pressure shares unless and until the company finds new leadership and can reassure investors that Spade’s exit was not related to any financial-related issues.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
WSJ News Exclusive | AMC Networks Plans Layoffs as CEO Christina Spade Steps DownAMC Networks is planning large-scale layoffs, according to a staff memo from the entertainment company’s chairman, a sign of further disruption at a company that earlier Tuesday announced its chief executive had stepped down.
Read more »
AMC Networks To See “Large-Scale” Layoffs As CEO Christina Spade ExitsAMC Networks Chairman Charles Dolan warned of layoffs at the media company in a staff memo to employees as newly installed CEO Christina Spade steps down after a tenure of only three months. It had…
Read more »
AMC Networks CEO steps down after less than three months | CNN BusinessAMC Networks is looking for a new CEO.
Read more »
Pressure mounts on AMC Networks: CEO exits after less than three months, major layoffs comingAMC Networks signaled that significant layoffs were planned at the company, which has 1,700 employees, in a sign of growing investor impatience with financial results, SteveBattaglio writes.
Read more »
AMC Networks CEO Spade stepped down, after being promoted to the role in SeptemberAMC Networks Inc. undefined said Tuesday that Chief Executive Christina Spade has stepped down, after less than three months in the role. The company did not...
Read more »
AMC Networks CEO Christina Spade Steps Down After Taking Over in September'The AMC Networks board of directors is currently finalizing who it will name as a replacement.'
Read more »