Cheddar News underwent a round of layoffs recently leaving many to speculate whether the news channel is doomed. The news’ YouTube channel has been struggling to stay afloat in an industry where even major network news channels are experiencing layoffs in the dozens to hundreds due to cost cutting measures.
Seasoned anchors Chloe Aiello and Baker Machado were among the twelve employees said to have been let go.
In response to the reports, a spokesperson for Altice USA sent out an email last week stating, “We are proud of our Cheddar News team, and we are not commenting on rumors or speculation,” though sources within the company are quietly providing more details.
Altice initiated several changes throughout the company after it bought Cheddar News in 2019. Stock shares have plummeted around 78 percent in just the last 12 months alone. Year-over-year, Altice’s news and ad revenue has decreased by 14 percent.
Earlier this year, Cheddar News eliminated six staffers after shuffling their duties around before deciding on terminating the staffers, much to the frustration of the entire workforce. One axed employee was a longtime Cheddar Senior Producer who had recently been made head of the News12 New York division owned by Altice as well as an employee who had just returned from maternity leave.
“We all knew even before then that it was kind of a sinking ship,” said an anonymous source quoted by Insider who went on to say there was a lack of concrete direction within the Cheddar News. “A couple of people have recently given their notice and are out the door too,” according to one former employee.
Cheddar News’ YouTube Channel has been a popular one for years, amassing an audience in the millions, but recent videos are struggling to bring in thousands of views over the past few months.
Tensions escalated as producers disagreed whether to focus on a more “educational documentary feel” versus “drama and glamor.” What producers agree on may be a moot point soon enough if the channel continues to lose viewers and revenue.
Now though, it has been two months since the channel has posted a new video. Leaving many to assume that Cheddar is no longer focused on YouTube.