The CEO of AMC Networks has stepped down in a shock move after just three months on the job, and the company plans to lay off about one-fifth of its US workforce as it faces pressure from streaming competitors and a slowing economy.The cable network, home to hit shows such as Mad Men, The Walking Dead, Breaking Bad, and Better Call Saul announced the moves in a press release and internal memos on Tuesday.The layoffs at AMC Networks come at a time when several media companies including Amazon and Facebook-parent Platforms are to their employee base to navigate a potential downturn in the economy.
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