DirecTV fires hundreds of employees from managerial positions As cord-cutting rises

As part of a staff reduction, DirecTV is laying off 10% of its upper-level employees, affecting hundreds of workers. Although layoffs are already scheduled to begin on January 20, staff were just informed one week ago. Satellite TV companies like DirecTV and Dish have seen a reduction in the top pay-TV over the past few years as cord-cutting usage rises daily. Due to the company's upcoming layoffs on January 20, DirecTV is off to a bad start in the new year. 10% of employees in managerial roles will be impacted by the cuts, according to a report by Deadline. The corporation is making this move in an effort to decrease costs as more people are cutting the cord from pay-TV services. Several companies were also hurt by the rising costs to secure and deliver programming, a company spokeswoman stated in a statement, so they are not the only one harmed by the industry's secular decline. [caption id="" align="aligncenter" width="575"] Image credit- Direct TV[/caption] The statement said, "We're modifying our operational costs to reflect these changes and will continue to invest in new entertainment items and service improvements. Customers who have cut the cord and now choose streaming options have put the corporation under strain. The company's services include the main satellite channels, the U-verse cable network, and the DirecTV stream that is offered online. According to the reports, the company went private in 2021 when AT&T and TPG agreed to spin off the company's operations, which were valued at $16.5 billion. Although DirecTV is a privately held firm and does not release subscriber statistics, it is well known that over the past ten years, their subscriber base has been falling. According to reports, the corporation has roughly 13 million subscribers and lost 500,000 during the past three months. [caption id="" align="aligncenter" width="1200"] Image credit- dtnext.com[/caption] License for NFL Sunday Tickets This was a feature of DirecTV for a long time until Google's YouTube TV and Primetime Channels obtained the licence for the NFL Sunday Ticket. Since 1994, the corporation had owned the rights, but the licence package was costing them around $500 million a year. Also Read: Is Google to Become the NFL Sunday Ticket's New Home? Large streaming sites or even tech behemoths are the only ones that can afford to cover these charges, especially given that the Sunday Ticket arrangement is now anticipated to be worth $2.5 billion to $3 billion annually. Additionally, a number of businesses in the sector have been having trouble recently as a result of economic difficulties. As a result, starting in 2023, football fans will turn to YouTube TV for all of their streaming demands related to American football. According to a study, a season's worth of Sunday Tickets would cost about $300. Users who buy this will receive a five-month contract for YouTube TV's football streaming service. When the season officially begins and rates are set, prices can still change.