Callisto Media Layoffs
October 2022
Callisto Media announced a layoff affecting 0 employees (35% of its workforce) in October 2022. The company operates in the Media sector.
0
35%
Oct 25, 2022
About
Callisto Media, an independent nonfiction book publisher, conducted another significant round of layoffs on October 24, 2022, following a previous reduction of 140 employees (35% of its workforce) in mid-July. While the exact number from this latest cut is unspecified, former employees estimate as many as 200 staff were let go, dealing a severe blow to the company's ranks. CEO Benjamin Wayne cited an extremely challenging market and a failure to secure new outside investment as reasons, stating the company needed swift restructuring to reach profitability. The layoffs coincided with the temporary closure of its physical offices in New York and Emeryville, California. This series of cuts highlights the severe pressures facing the publishing industry and venture-backed companies amid economic uncertainty.
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