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
European publishers are pivoting more heavily to video as they brace for the impacts of GDPR implementation. The post Digiday Research: 94 percent of European publishers will increase their video output appeared first on Digiday. Continue reading at Digiday
[ Digiday | 2017-11-06 00:00:00 UTC ]
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[Infographic] Surprising stats from around the magazine industry. The post HBR Grows Paid Circ 10 Percent | By The Numbers appeared first on Folio:. Continue reading at Folio Magazine
[ Folio Magazine | 2017-10-26 00:00:00 UTC ]
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The Bloomsbury Group’s revenues soared by 15% to £72.1m for the first six months of its financial year, helped by J K Rowling’s Harry Potter books which boosted sales in the publisher’s children’s division by 33%. Continue reading at The Bookseller
[ The Bookseller | 2017-10-25 00:00:00 UTC ]
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The bestselling iBooks in mystery, romance, sci-fi, biography, fiction, and more for the week ended October 15, 2017. Continue reading at Publishers Weekly
[ Publishers Weekly | 2017-10-23 00:00:00 UTC ]
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After 30 years, the magazine is shutting down its monthly print issue, per multiple reports, with the November edition as its last. The post Competitor Running Shutters Print Edition, Lays Off Staff appeared first on Folio:. Continue reading at Folio Magazine
[ Folio Magazine | 2017-10-18 00:00:00 UTC ]
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At the Digiday Publishing Summit, publisher executives shared mixed views on the pivot to video and its ability to provide meaningful revenue streams. The post Digiday Research: 80 percent of publishers will spend more on video appeared first on Digiday. Continue reading at Digiday
[ Digiday | 2017-10-09 00:00:00 UTC ]
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National Poetry Day takes place today (28th September) with the launch of a new BBC poetry and performance festival featuring Kate Tempest, Hollie McNish and Simon Armitage among others. Continue reading at The Bookseller
[ The Bookseller | 2017-09-29 00:00:00 UTC ]
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In its program to change the makeup of the UK book business workforce, British publishers have taken the lead in international inclusivity efforts. The post The UK’s Publishers Formally Commit to a Workforce Diversity Program’s 10-Point Action Plan appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2017-09-19 00:00:00 UTC ]
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In its program to change the makeup of the UK book business workforce, British publishers have taken the lead in international inclusivity efforts. The post The UK’s Publishers Commit to a Workforce Diversity Program’s 10-Point Action Plan appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2017-09-19 00:00:00 UTC ]
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Updated to add details of the rumored black Surface Book based on the 8th-generation Core chips, as well as Intel’s desktop processors.For the first time, Intel’s upcoming 8th-generation Core CPUs will feature quad-core processors aimed at ultrabooks, offering performance as much as 40 percent... Continue reading at PC World
[ PC World | 2017-08-23 00:00:00 UTC ]
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The Leadership Journey will help you master the essential skill set of the truly effective leader. This eBook from Wiley brings world-renown people and talent development expertise to bear in a discussion about 'good' versus 'great' leadership, sharing the 'secret sauce' of successful... Continue reading at Betanews
[ Betanews | 2017-08-08 00:00:00 UTC ]
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Russia's book piracy problem seems to be getting worse: in a new survey, two out of three respondents say they believe downloading pirated content is legal. The post Russian Government Figures Put Book Piracy at 25 to 30 Percent appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2017-08-08 00:00:00 UTC ]
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Veteran Hollywood executive Jonathan Dolgen, who formerly headed Paramount Pictures, has sold his home in Malibu for $18 million. The buyer was Chris Columbus, director of such films as “Home Alone,” “Mrs. Doubtfire” and “Harry Potter and the Sorcerer’s Stone.” The English traditional-style home... Continue reading at Los Angeles Times
[ Los Angeles Times | 2017-07-07 00:00:00 UTC ]
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New bookstores for Missouri and New Jersey; Texas resort-town store wins top honor; Michigan and Ohio stores to reopen; and more. Continue reading at Publishers Weekly
[ Publishers Weekly | 2017-06-15 00:00:00 UTC ]
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High Street sales at W H Smith continue to tumble – down 4% like-for-like in the past 15 weeks. However, its Travel arm continues to trade strongly, with sales up 5% like-for-like. Continue reading at The Bookseller
[ The Bookseller | 2017-06-15 00:00:00 UTC ]
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This year, Insight Editions celebrates 15 years of creating highly designed and very successful one-of-a-kind products. Continue reading at Publishers Weekly
[ Publishers Weekly | 2017-06-02 00:00:00 UTC ]
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Led by strong gains in its children’s publishing division, revenue at Bloomsbury rose 15% in the fiscal year ended February 28, 2017 over fiscal 2016. Profits slipped, however, dropping to £9.4 million from £10.3 million in fiscal 2016. Continue reading at Publishers Weekly
[ Publishers Weekly | 2017-05-18 00:00:00 UTC ]
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Kickstarter-supported indie gets a location; ex-bookseller starts massive book tour; Oregon store celebrates a milestone; and more. Continue reading at Publishers Weekly
[ Publishers Weekly | 2017-05-15 00:00:00 UTC ]
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Neil deGrasse Tyson has the #2 book in the country with ‘Astrophysics for People in a Hurry.’ Plus the Paula Hawkins releases her ‘Girl on the Train’ follow-up, and the adult behind the Honest Toddler Twitter account publishes her first novel. Continue reading at Publishers Weekly
[ Publishers Weekly | 2017-05-12 00:00:00 UTC ]
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Kristina McMorris lands six figures at Sourcebooks, M.O. Walsh sells his sophomore novel, Flatiron buys an SF take on the Bard, and more in this week's notable book deals. Continue reading at Publishers Weekly
[ Publishers Weekly | 2017-05-12 00:00:00 UTC ]
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