Machinima laying off 42 people

- March 6th, 2014
Machinima.com

Machinima.com. (SCREENSHOT)

Gaming and video streaming site Machinima has announced it is laying off 42 people, Variety reports.

These cuts, amounting to 23% of its staff, is only the latest cuts for the company, having announced 22 layoffs in September and 20 more job cuts back in December 2012.

Founded in 2000, Machinima’s name is a portmanteau of machine and cinema and refers to the process of creating computer-generated animation with video game engines. This made up many of the original videos on the site. But it now operates several different YouTube channels of gaming-related content, including live action web series based around popular video games, such as Mortal Kombat: Legacy.

In May of 2012, Machinima raised $35 million US in investments led by Google to expand its operations, prior to the first round of layoffs.

CEO Allen DeBevoise announced he was leaving the company in November.

Last week, the Wall Street Journal reported Warner Bros. is considering invested $10-15 million in Machinima.

According to Variety, these new layoffs have nothing to do with the potential investment.

 

Subscribe to the post

Leave a comment

 characters available