Last week, Callisto Media laid off 140 employees—35 percent of their workforce—sources have confirmed to PL. The cuts were made across departments and levels, in both the New York and Oakland, CA offices. CEO Benjamin Wayne told employees in an all-staff virtual meeting on July 12 that the company, which has been trying to go public or execute a sale, was not yet profitable and it was hard to secure investors during the economic downturn. Callisto needed to reduce spending by $20 million, he said, and 140 positions would be eliminated. Wayne also said that the company would pare down […]
