Machinima, a global video entertainment network for gaming fans and young males, today announced it is laying off 42 staff members as a result of restructuring in and around its sales organization.
The layoffs are an “effort to create greater focus internally on selling creative ad solutions and branded entertainment, while better leveraging its longstanding partnership with YouTube to drive media sales,” the company says, in a statement.
Machinima has 321 million-plus YouTube subscribers and more than 48 billion views. In May 2012, Machinima received a $35 million cash infusion from Google, along with pre-existing investors Redpoint Ventures and MK Capital. In June 2013, Allthingsd.com reported that the company had enlisted bankers from Allen & Co. to secure as much as $70 million in new financing, but a deal never came to fruition.
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Machinima to lay off 42 staff
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