Plex, the media server app, has laid off 37 employees, which is over 20% of its workforce. CEO Keith Valory stated in a Slack message that the layoffs have affected all departments. Plex has been focusing on offering free, ad-supported movies and shows and live TV in recent years. However, the company has faced difficulties in monetizing its ad business, especially due to the downturn in global advertising markets. In an attempt to become cash-flow positive in the next 18 months, Plex will be restructuring its product areas and making additional internal changes.
Meta Data: {“keywords”:”Plex, layoffs, media server app”}
Source link