Shutterstock Lays Off REX Employees
Posted on 12/10/2015 by Jim Pickerell | Printable Version |
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Six REX employees were laid off by Shutterstock earlier this week. One had been with the company for 34 years. I asked Shutterstock for an explanation.
JP Question – I understand that 6 REX employees were laid off last week. I guess that would be about a 20% reduction in staff, maybe more.
Shutterstock - The percentage reduction in staff was significantly lower than the % you stated in your email. After months of consideration, we considered the most effective way to structure the team following the acquisition of Rex by Shutterstock. Shutterstock will continue to invest in people and resources to become a leader in the editorial market.
JP Question - I've also heard that you intend to get rid of the REX name early in 2016 and I guess that means that all editorial subscriptions will not be negotiated directly by the Enterprise sales team.
Shutterstock - The Rex name will remain and the plan for 2016 is to provide customers and contributors with a seamless experience and enhanced functionality for sourcing and offering content.
JP - During a recent conference call to investors Steven Berns, Chief Financial Officer, said Shutterstock will be “launching” Editorial in 2016.
Copyright © 2015
Jim Pickerell.
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