Callisto Media Layoffs
July 2022
Callisto Media announced a layoff affecting 140 employees (35% of its workforce) in July 2022. The company operates in the Media sector.
140
35%
Jul 21, 2022
About
Callisto Media, a 12-year-old nonfiction publisher based in New York and Emeryville, California, laid off approximately 140 employees, representing 35% of its workforce, in mid-July 2022. The cuts were part of a broader plan to reduce annual spending by at least $20 million and demonstrate a clear path to profitability to meet investor expectations in the current market. CEO Benjamin Wayne announced the decision to staff on July 12, citing that all other options had been exhausted. The layoffs, which affected roles from editors to creative directors and even some recent hires, were carried out swiftly over the following days via Zoom meetings. As part of its restructuring, Callisto also plans to significantly reduce its title production from over 1,000 to about 400-500 books per year, alongside cuts in contractor spending and capital expenditures.
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