Company to trim 30 positions
Current Media confirmed Tuesday that it will cut 30 positions overall as part of a restructuring intended to better emphasize interaction between cable network Current TV and its website.
Founded in 2005 by Al Gore and Joel Hyatt as a TV network programmed with user-generated content, Current has eliminated a total of 60 positions across its San Francisco HQ, and New York and L.A. offices.
Some of those whose positions were eliminated were redeployed among 30 new roles that were created. Current has 410 employees after the staffing adjustments.
“These changes enable Current Media to reduce its cost structure, thereby assuring that it will be comfortably profitable in 2009 regardless of the depth and length of the recession,” a company statement said.