The newly formed television network of Dr. Phil reportedly axing dozens of jobs: ‘Complete shock’

According to a report, a new media company created by famous TV show host, Dr. Phil McGraw, retained about a third of its 100-person staff.

Merit Street Media, founded by McGraw earlier this year, completed a layoff Monday involving fewer than 40 people, mostly in the morning and evening news departments, sources familiar with the layoffs told Bloomberg.

The Fort Worth, Texas-based company resumed McGraw’s gabfest of the day, “Dr. Phil Primetime” airing on the Merit Street Television Network.

“After the short summer break of ‘Dr. Phil Primetime, Merit Street implemented ongoing consolidations of departments and roles in an effort to achieve efficiencies at the highest level, which unfortunately resulted in some layoffs,” the media company said in a statement.

The new hires did not receive layoffs, sources told Bloomberg.

Merit did not return a request for comment.

“These layoffs came as a complete shock to everyone on staff,” an employee told Mediaite.

“Some people uprooted their whole lives to move here for this job without a safety net and now the rug has been pulled out from under them.”

McGraw, who rose to prominence as a regular guest on Oprah Winfrey’s talk show, ended his 21-year run on daytime TV early last year.

He heralded his return to the airwaves with “Dr. Phil Primetime” last November on the brand new network.

“I chose ‘Merit’ to honor the meritocracy on which our amazing country was built and ‘Street’ to represent ‘Main Street’ America,” McGraw said in February in a statement.

The network began through a partnership with Trinity Broadcasting Network, a self-proclaimed Christian television group that reaches 80 million homes, according to its website.

Like his original show – during which “Dr. Phil” talked to teenage rule-breakers, drug addicts and conspiracy theorists – McGraw tackles attention-grabbing topics on his new show.

In June, he interviewed former President Donald Trump.