In a move that should come as no surprise, struggling Aereo today started laying off staff and shutting doors. “In an effort to reduce costs, we made the difficult decision to lay off some of our staff in Boston and New York,” the company said in a statement. While based in NYC, Aereo’s largest office actually was in Boston. “We are continuing to conserve resources while we chart our path forward,” the company said. “We are grateful to our employees for their loyalty, hard work and dedication. This was a difficult, but necessary step in order to preserve the company.”
Aereo has been on life support ever since the Supreme Court ruled against the Barry Diller-backed streaming service back in June. The bottom line is, with few legal avenues left, the already-shuttered Aereo is running out of cash. However, today’s layoffs of 43 employees in Boston and others in NYC do not mean Aereo is totally dead. CEO and founder Chet Kanojia and other top execs will keep the lights on. But with the downward spiral turning into a free fall, the end of Aereo might be just a matter of when not if at this point.
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