In what has turned into a conflagration of a month for the comics industry, IDW has confirmed that there have been a handful of layoffs. A statement was sent to The Beat:
“IDW has made the difficult decision to reduce staff as part of ongoing efforts to streamline operations. We appreciate the contributions of those affected and wish them the best in their future endeavors.”
However, with IDW’s staff much smaller, only two staffers were laid off in this round. We’re told that IDW Entertainment, a division that oversaw IDW’s media productions, has been effectively shut down as the last remaining employee has been laid off. IDW Publishing, the other division of parent company IDW Media Holdings, remains.
IDW just had an earnings call on Monday, where CEO Davidi Jonas stated that worries over IDW’s solvency in the wake of the Diamond bankruptcy were unfounded, and the company would survive. The report indicated that operating losses had fallen greatly, but not on a rise in revenue, but rather a decline in operating expenses.
UPDATE: This story has been updated to reflect that only two staffers in total were laid off.