DirecTV Lays Off Hundreds, Blaming Pay-TV’s “Secular Decline”
DirecTV is laying off hundreds of managers as the cord-cutting trend continues hammering the firm with a rolling, mass exodus of customers. The cuts reportedly represent about 10% of management, which comprises about half of the company’s staff.
In a sign of the times, DirecTV, which launched the NFL’s Sunday Ticket package in 1994, elected not to continue, following years of losses on the product. Meanwhile, YouTube TV — a chief beneficiary of the cord-cutting trend — will start carrying Sunday Ticket, paying $2 billion a year for the privilege.
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