Univision CEO Randy Falco, who announced plans to retire by year’s end, has signaled more upheaval and layoffs are in the media company’s future.
“As part of our continuing efforts, we have made the very difficult decision to reduce personnel across the company,” Falco wrote in a memo to staff obtained by TheWrap. “We know that disruption is required to transform this business into a company that will not only exist but continue to thrive in the future.”
In recent weeks, the company has lost CFO Francisco Lopez-Balboa and Gizmodo Media Group CEO Raju Narisetti.
“The changes needed are not going to be easy,” he continued in the memo, sent last week.