AMC Networks plans to cut about 20% of U.S. employees, WSJ reports

AMC Networks plans to reduce its U.S. workforce by about 20%, The Wall Street Journal’s Jessica Toonkel and Will Feuer report. "We have determined we need to conserve resources at this time," according to a statement provided to The Wall Street Journal. "This will involve cutbacks in operations which unfortunately includes a large-scale layoff, impacting approximately 20% of our employees in the U.S." On Tuesday, the company announced that its CEO had stepped down less than three months after taking the helm. Reference Link