Social Chain Media, the company behind sites like Gamebyte and FragHero, is planning to let around 35 of its editorial and publishing staff members go. This is to pivot towards focusing its business on creating new video and social media content, MCV/DEVELOP has been told.
The redundancy letter sent to staff members claims that the decision was made by Social Chain’s board “following a review of all its businesses in response to a very tough market environment.”. It also explains that Social Chain’s upcoming business model will involve a “higher volume of social and video content.” than before.
It goes on to say that the 35 employees number is currently only an estimate, with the exact number of staff to be let go still to actually be determined, pending an internal consultation.
MCV/DEVELOP has reached out to multiple staff members we have learned are expecting to be let go, but we have not yet received any comment.