Paramount is laying off 15 percent of its US workforce, according to reporting by Deadline. This follows a lean second quarter earnings report in which total revenue fell short from an expected $7.21 billion to $6.81 billion. The layoffs will impact around 3,000 people. “The industry continues to evolve, and Paramount is at an inflection point where changes must be made to strengthen our business,” company CEOs wrote in a staff memo. Paramount representatives say these cuts will happen in three stages, with layoffs beginning today and 90 percent of all cuts being completed by the end of September. The layoffs will primarily impact employees involved in marketing and communications, though the company’s legal and finance arms will also face cuts. Paramount already laid off three percent of its workforce back in February, and this was after a three percent increase in revenue growth that was largely credited to its streaming and film businesses. So, a three percent increase of revenue translated to a three percent reduction of Paramount’s workforce and missing revenue expectations by around four percent is leading to layoffs accounting for 15 percent of company employees. Workers can’t catch a break. All of these layoffs are likely being used to clear the runway, so to speak, for the forthcoming merger with Skydance. The merger was announced back in June and will soon head to the regulatory review process. Paramount has also been raising prices for its streaming service... Continue reading at 'Engadget'
[ Engadget | 2024-08-13 15:31:20 UTC ]
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#announced back
#raising prices
#corporate executives
#libraries
Paramount is laying off 15 percent of its US workforce, according to reporting by Deadline. This follows a lean second quarter earnings report in which total revenue fell short from an expected $7.21 billion to $6.81 billion. The layoffs will impact around 3,000 people. “The industry continues... Continue reading at Engadget
[ Engadget | 2024-08-13 15:31:20 UTC ]
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Digital media agency Goodway Group has been laying off employees across multiple teams in the past year as part of an ongoing reduction in its workforce, according to multiple sources who have been terminated. Continue reading at Digiday
[ Digiday | 2024-06-14 16:05:57 UTC ]
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Amazon-owned online audiobook and podcast service Audible is laying off about 5% of its workforce Continue reading at ABC News
[ ABC News | 2024-01-11 22:47:05 UTC ]
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The company is also selling and spinning off some of its divisions as the video game industry faces cutbacks. Epic Games, maker of the smash hit Fortnite, isn’t immune to the troubles of the video game industry. The publisher announced Thursday it was laying off 16% of its staff, which works... Continue reading at Fast Company
[ Fast Company | 2023-09-28 14:15:00 UTC ]
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The move follows Nielsen laying off 9% of its own staff and comes a day after VideoAmp announced a $150 million funding round. Continue reading at Advertising Age
[ Advertising Age | 2023-09-14 20:19:52 UTC ]
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Last week, Callisto Media fired about 140 employees in an effort to reduce spending by about $20 million. As a result of the job cuts, title output has been reduced significantly. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-07-21 04:00:00 UTC ]
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Outside Inc. told staff on Friday that it would be laying off around 15% of its 580-person workforce--between 85 to 90 people--as the bundled publisher continues its transition to a primarily digital company, the Denver Business Journal reported Friday. The media company, which is composed of 36... Continue reading at AdWeek
[ AdWeek | 2022-05-21 00:26:05 UTC ]
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Christian publishers are not in panic mode despite recent Nielsen BookScan numbers indicating Christian fiction sales dropped 15 percent from 2013 to 2014. Houses with major fiction programs remain optimistic about the category and are not pulling back. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-02-10 00:00:00 UTC ]
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Hachette Book Group in the US is to lay off 3% of its workforce as part of a “cost-savings... Continue reading at The Bookseller
[ The Bookseller | 2014-06-06 00:00:00 UTC ]
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The Interactive Advertising Bureau (IAB) shared in its 2010 full year report that annual Internet advertising revenues increased by 14.9 percent from 2009 to 2010, rising from $22.66 million in 2009 to $26.04 billion in 2010. Continue reading at Folio Magazine
[ Folio Magazine | 2011-04-14 00:00:00 UTC ]
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The StatShot report from AAP shows United States trade book industry revenues falling 8.9 percent in April and 1 percent year-to-date. The post StatShot: US Industry Down 12.6 Percent in April; 2.3 Percent Year-to-Date appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2022-07-11 17:32:26 UTC ]
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Pamela Paul, the editor of the Book Review, highlights memorable episodes from her eight years hosting the show, including conversations with Robert Caro, Isabel Wilkerson, James McBride and others. Continue reading at The New York Times
[ The New York Times | 2021-04-14 13:30:36 UTC ]
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Programmatic buying is exploding according to a recent IAB and Winterberry Group study. However, the study also shows that some hurdles are slowing adoption rates. Continue reading at Folio Magazine
[ Folio Magazine | 2013-11-05 00:00:00 UTC ]
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After posting its first profit in decades in 2010, The Atlantic says it continues to see gains in 2011, with digital advertising up 42 percent and print advertising revenue up 9 percent in the second quarter, compared to the same period last year. Digital advertising is also up 23 percent for... Continue reading at Folio Magazine
[ Folio Magazine | 2011-07-26 00:00:00 UTC ]
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Gabrielle Bellot on the radical and harrowing nature of being trans in Trump’s America. | Lit Hub Memoir Lili Anolik explores the tumultuous, iconic, and unmistakably literary friendship between Eve Babitz and Joan Didion. | Lit Hub Biography “I am glad not to be a Greenland shark; I don’t have... Continue reading at Literrary Hub
[ Literrary Hub | 2024-11-16 11:30:58 UTC ]
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Books removed from Florida libraries include books by and about marginalized people as well as classic authors like George Orwell. Continue reading at Book Riot
[ Book Riot | 2024-11-15 12:15:00 UTC ]
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Gabrielle Bellot on the radical and harrowing nature of being trans in Trump’s America. | Lit Hub Memoir “Goodness is neither wisdom nor wealth; ironically, like evil, in its purest form good is not instrumental, utilitarian, or even pragmatic.” Ed Simon on the Seven Deadly Sins and how good... Continue reading at Literrary Hub
[ Literrary Hub | 2024-11-15 11:30:28 UTC ]
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We’re big Lego fans here at Engadget, so it’s not difficult for us to understand why the building block sets are some of the first items to sell out during the holiday shopping season. Kids and adults alike seek out Lego sets all year round, and they make particularly good gifts. Whether you... Continue reading at Engadget
[ Engadget | 2024-11-14 15:00:13 UTC ]
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The United States' book publishing trade in August was up 13.4 percent year over year, and was up 8.1 percent year-to-date. The post AAP StatShot: US Publishing Industry Up 8.5 Percent in August appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2024-10-29 15:02:49 UTC ]
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How does a bookstore know it's almost Halloween? When the horror shelves are a ghost town. Here are a handful of terrifying new titles you should bring home to haunt you this All Hallow’s Eve. Continue reading at Publishers Weekly
[ Publishers Weekly | 2024-10-29 04:00:00 UTC ]
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