{"id":2652,"date":"2020-06-03T23:16:59","date_gmt":"2020-06-03T20:16:59","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/quibi-asks-top-execs-to-take-10-percent-pay-cut-as-layoffs-loom-2\/"},"modified":"2020-06-03T23:16:59","modified_gmt":"2020-06-03T20:16:59","slug":"quibi-asks-top-execs-to-take-10-percent-pay-cut-as-layoffs-loom-2","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/quibi-asks-top-execs-to-take-10-percent-pay-cut-as-layoffs-loom-2\/","title":{"rendered":"#Quibi asks top execs to take 10 percent pay cut as layoffs loom"},"content":{"rendered":"

“Quibi asks top execs to take 10 percent pay cut as layoffs loom<\/strong>”
\n<\/p>\n

\n Quibi, the new start-up from Hollywood mogul Jeffrey Katzenberg, is in cutting mode already.<\/p>\n

Just a month after it launched on April 6, the mobile streaming service is asking senior executives to take a 10-percent pay cut as coronavirus lockdowns have squelched demand for its short-form videos, which are aimed at people on the go.<\/p>\n

In an internal memo obtained by The Post, founder Katzenberg and Chief Executive Meg Whitman confirmed they were taking salary reductions themselves, calling them \u201cthe right thing to do.\u201d<\/p>\n

The news<\/a> comes after reports that Quibi was cutting costs, including slashing 10 percent of its workforce, which totals 250 employees. Citing anonymous sources, The Wall Street Journal said late Wednesday that layoff talks would impact mostly lower and mid-level employees.<\/p>\n

The Quibi memo comes in response to a Page Six story on Tuesday, which claimed that Quibi<\/a>, which had already begun laying off employees, recently doled out a $6 million check to actress Reese Witherspoon, spurring anger over the cost cuts.<\/p>\n

\u201cNothing has changed since our last company meeting two weeks ago,\u201d the memo said. \u201cQuibi is in a good financial position. As we said in that meeting, we will look for ways to tighten our belt. We are not laying off staff as a part of cost saving measures. We\u2019ve recently added a dozen new Quibi employees.\u201d<\/p>\n

The execs also disputed Witherspoon\u2019s $6 million pay day but they did not elaborate further. Quibi spokewoman Gina Stikes echoed that the firm is \u201cnot laying anyone off\u201d and added that Witherspoon\u2019s payout was \u201cegregiously inflated\u201d but she declined to provide details, citing \u201cconfidentiality.\u201d<\/p>\n

Quibi has raised roughly $1.75 billion from tech companies, movie studios and wealthy individuals, which all believed in Katzenberg\u2019s vision that consumers would stream highly-produced short-form shows via smartphone while on the go. But the pandemic has thrown a wrench in that plan as house-bound consumers are watching longer form series<\/a> on larger screens.<\/p>\n

Several of Quibi\u2019s major advertisers are seeking to renegotiate their contracts, and the company faces a lawsuit from New York-based interactive video company Eko, which is claiming\u00a0patent infringement and stealing of its trade secrets. Quibi has denied those charges.<\/p>\n

Quibi, which costs $4.99 a month with ads and $7.99 a month without ads, has been installed by users about 4.5 million times, including about 1.6 million users who signed up for a free 90-day trial.\n <\/p><\/div>\n

Source<\/a><\/p>\n

\n

If you want to read more Like this articles, you can visit our Social Media category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n

\n

if you want to watch Movies or Tv Shows go to Dizi.BuradaBiliyorum.Com<\/a> <\/span> for forums sites go to Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"

“Quibi asks top execs to take 10 percent pay cut as layoffs loom” Quibi, the new start-up from Hollywood mogul Jeffrey Katzenberg, is in cutting mode already. Just a month after it launched on April 6, the mobile streaming service is asking senior executives to take a 10-percent pay cut as coronavirus lockdowns have squelched…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[17],"tags":[4962,2961,4960,1707,4961,1372],"class_list":["post-2652","post","type-post","status-publish","format-standard","hentry","category-social-mediaa","tag-6-3-20","tag-jeffrey-katzenberg","tag-layoffs","tag-quibi","tag-reese-witherspoon","tag-streaming"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/2652","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=2652"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/2652\/revisions"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=2652"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=2652"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=2652"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}