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 ]
News tagged with:
#streaming service
#regular people
#expected $7
#industry continues
#inflection point
#staff memo
#finance arms
#revenue growth
#largely credited
#film businesses
#revenue translated
#announced back
#raising prices
#corporate executives
#libraries
Led by a solid quarter by Regnery, sales in Salem Media Group's publishing division rose 15.8% in the third quarter of 2019 over the comparable period last year. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-11-18 05:00:00 UTC ]
More news stories like this | News stories tagged with:
#publishing division
#solid quarter
Among the headlines this week: ALA applauds Trump's choice to lead IMLS; the simple reason why some librarians believe Macmillan's e-book embargo is destined to flop; and administrators finally come clean about why a YA author's library visit was canceled. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-11-15 05:00:00 UTC ]
More news stories like this | News stories tagged with:
#e-book
#ya author
#e-book embargo
As part of a financial update released last week, Houghton Mifflin Harcourt said it plans to eliminate about 8% of its workforce in another effort to align its operations with its business objectives. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-10-21 04:00:00 UTC ]
More news stories like this | News stories tagged with:
#houghton mifflin harcourt
Refinitiv, a risk and financial data provider that was once part of Thomson Reuters, is set to lay off more than 100 employees at its Eagan facility. The London-based company will terminate primarily IT-related positions starting in December 2019, according to a filing with Minnesota's... Continue reading at Silicon Valley Business Journal
[ Silicon Valley Business Journal | 2019-10-17 17:52:04 UTC ]
More news stories like this | News stories tagged with:
#thomson reuters
#economic development
Dive into these 15 LITTLE FIRES EVERYWHERE book club questions for a lively group discussion that will stay with you for days. Continue reading at Book Riot
[ Book Riot | 2019-09-23 10:34:41 UTC ]
More news stories like this | News stories tagged with:
#book club
Warsaw's cut in VAT rates on digital books takes effect November 1, a long-called-for equalization in taxation on print and ebooks, now allowed by Brussels. The post Poland Approves Reduction of Ebook VAT from 23 to 5 Percent appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2019-09-17 05:30:49 UTC ]
More news stories like this | News stories tagged with:
#digital books
#vat rates
#ebook vat
The tricky business of managing “onsale” dates creates friction between publishers and booksellers. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-09-16 12:00:16 UTC ]
More news stories like this | News stories tagged with:
#tricky business
Welcome to another edition of Ad Age Sports Media Brief, a weekly roundup of news from every zone of the sports media spray chart, including the latest on broadcast/cable/streaming, sponsorships, endorsements, gambling and tech. The only game in town The NFL, its media partners and their... Continue reading at Advertising Age
[ Advertising Age | 2019-09-12 15:30:00 UTC ]
More news stories like this | News stories tagged with:
#nielsen
#social disease
#bloomberg businessweek
#status quo
In another period of double-digit growth for China's book market, children's books are the largest category by sales and online retail is still growing. The post China’s Book Market in the First Half of 2019: Up 10.82 Percent appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2019-08-09 13:15:13 UTC ]
More news stories like this | News stories tagged with:
#book market
#online retail
#double-digit growth
#post china
Comscore, its stock already approaching all-time lows, missed expectations of flat revenue with a 4.4 percent decline last quarter. The media measurement company’s interim CEO said on a Tuesday earnings call after market close that it’s “exploring all strategic options.” The stock already has... Continue reading at Advertising Age
[ Advertising Age | 2019-08-07 00:08:01 UTC ]
More news stories like this | News stories tagged with:
#nielsen
#quarterly loss
#helped push
#ongoing securities
#three-firm market
#measurement relationship
#movie reporting
#cross-platform measurement
#stem decline
#slightly higher
#things don
#rough run
#advertising agencies
#providesmarketing data
#high priority
#private-equity firms
Bloomsbury has won a 15-publisher bidding war for a book on grief by podcaster Cariad Lloyd, in “one of the fiercest auctions” managed by agent Nelle Andrew of PFD, for a "significant" six-figure deal. Continue reading at The Bookseller
[ The Bookseller | 2019-08-04 20:54:25 UTC ]
More news stories like this | News stories tagged with:
#bloomsbury
#six-figure deal
Whether you plan to grow some devil’s snare or just some garden variety tomatoes, these Harry Potter planters are sure to get you started on the right note. Continue reading at Book Riot
[ Book Riot | 2019-07-16 10:36:27 UTC ]
More news stories like this | News stories tagged with:
#harry potter
This week: Colson Whitehead's new novel, plus George Takei's new graphic memoir. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-07-12 04:00:00 UTC ]
More news stories like this | News stories tagged with:
#graphic memoir
#george takei
#colson whitehead
Mo Willems has the #5 book in the country with 'The Pigeon Has to Go to Schooll!' Plus we look at books that got a boost around the July 4 holiday, and notable debuts of the week. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-07-12 04:00:00 UTC ]
More news stories like this | News stories tagged with:
##5 book
#mo willems
Pamela Dorman pays up for a debut novel by a former publicity director at Penguin Books Canada, and Princeton University Press lands a big book on the gender pay gap in this week's notable book deals. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-07-12 04:00:00 UTC ]
More news stories like this | News stories tagged with:
#debut novel
#big book
#notable book
#publicity director
#book deals
The business news publisher has laid off 11 commercial-side employees over two stints in 2019. Some of those roles remain unfilled, as Quartz pours more resources into its nascent membership program. The post Quartz lays off business-side employees for second time this year appeared first on... Continue reading at Digiday
[ Digiday | 2019-06-28 04:01:26 UTC ]
More news stories like this | News stories tagged with:
#news publisher
#year appeared
Apple warns of fire safety risks in some 15-inch MacBooks sold from September 2015 to February 2017. If you bought a 15-inch MacBook Pro a few years ago, it could be a fire hazard. Apple has issued a recall for “a limited number” of laptops sold between September 2015 and February 2017 due to... Continue reading at Fast Company
[ Fast Company | 2019-06-21 13:00:57 UTC ]
More news stories like this | News stories tagged with:
#books sold
#limited number
Paramount Pictures has bought film rights to Adrian McKinty’s upcoming thriller The Chain (Orion) in a seven-figure deal. Continue reading at The Bookseller
[ The Bookseller | 2019-06-20 09:51:26 UTC ]
More news stories like this | News stories tagged with:
#seven-figure deal
Goldin's novel 'The Escape Room' keys into the cutthroat world of Wall Street hedge fund megawealth and workplace sexism. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-05-30 04:00:00 UTC ]
More news stories like this |
The TV audience in Baltimore for Saturday’s Preakness race was down 10.65 percent compared with that in 2018. Those are household figures from Nielsen that measure the size of the audience during the actual running of the race. They are provided by WBAL-TV, the NBC affiliate that aired NBC’s... Continue reading at Baltimore Sun
[ Baltimore Sun | 2019-05-20 13:50:00 UTC ]
More news stories like this | News stories tagged with:
#aired nbc
#nbc affiliate
#actual running
#household figures
#preakness race
#tv audience