Media production company Rooster Teeth has made significant cuts to its workforce, laying off 13 per cent of its staff. That percentage equates to around 50 employees.
According to a staff memo seen by Variety, Rooster Teeth CEO and co-founder Matt Hullum stated that the cuts were required to ensure the company hits future growth targets. The layoffs are spread through multiple divisions, including content production, distribution and advertising.
“As we looked ahead at all of our upcoming opportunities and challenges, we had to make some difficult decisions about how we are organized,” Hullum wrote in the memo.
He also stated that the layoffs are not “reflective of anyone’s individual performance, and we’re thankful for all that our former colleagues have contributed.”
This is the first round of consequential layoffs that Rooster Teeth has made since its launch in 2003. In 2014, Rooster Teeth was acquired by Fullscreen. The company has also been headed by ex-Fullscreen president Ezra Cooperstein since January 2018.
The brand is globally recognised for its shows, including the popular Halo-inspired Red vs. Blue, and animated series RWBY.
Rooster Teeth has amassed an audience of over 45 million subscribers across several YouTube channels, and millions of additional followers on various social networks.
Rooster Teeth opened a London office last April in order to expand its presence in the UK. Just over a year ago, the company also launched a $2.5m initiative to support rising animators. The funding was allocated to find and recruit new creators, as well as to promote Rooster Teeth's subscription service, First.