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
The Last of Us: American Dreams is a prequel comic book series from Dark Horse that reveals the untold story of the character Ellie a year before she met Joel. Continue reading at Wired
[ Wired | 2013-08-06 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#untold story
#dark horse
#american dreams
Amazon has faced fresh allegations about its treatment of workers after an investigation of... Continue reading at The Bookseller
[ The Bookseller | 2013-08-02 00:00:00 UTC ]
More news stories like this |
Brazil has been a complicated marketplace for brands in recent weeks, but it's not stopping companies from getting ready for the FIFA 2014 World Cup. For instance, Young Hollywood and Momentum Entertainment Group today are announcing their partnership to create a digital channel that will focus... Continue reading at AdWeek
[ AdWeek | 2013-07-15 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#traffic boost
#people watching
#ad units
#online platform
Print ad pages are down for the eighth-consecutive quarter, but the pace of those losses is slowing down. Continue reading at Folio Magazine
[ Folio Magazine | 2013-07-11 00:00:00 UTC ]
More news stories like this |
Apple director Keith Moerer said in court on Tuesday that the company holds about 20 percent of the US ebook market, double the size commonly assumed. The revelation came after the Department of Justice tried to bolster its price fixing case against the company by asserting that "Apple forgot to... Continue reading at Engadget
[ Engadget | 2013-06-13 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#online store
#ebook market
#court --
According to a new report by the Association of American Publishers, children's and young adult books experienced a sales jump driven by hardcover sales of Suzanne Collins' trilogy. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2013-05-01 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#suzanne collins
#hardcover sales
#american publishers
#hunger games
It's well off the triple year-over-year growth that ebooks saw a few years ago, but the latest report from the Association of American Publishers shows that ebooks did inch up even further in 2012 to account for a sizeable chunk of overall book sales. According to its figures, ebooks now... Continue reading at Engadget
[ Engadget | 2013-04-13 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#ebook sales
#tenth anniversary
#book sales
#latest report
Digital revenue growth among online publishers in the UK is expected to grow by 15 per cent in 2013 according to the fifth annual organisation census by the Association of Online Publishers, while technology and data will play an increased role in re ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2013-04-11 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#increased role
#online publishers
#digital revenue
Ebooks accounted for 22.55 percent, or nearly a quarter, of U.S. book publishers’ sales in 2012, according to a full-year report released by the Association of American Publishers Thursday. That’s up from 17 percent of sales in 20 ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2013-04-11 00:00:00 UTC ]
More news stories like this |
Digital revenue growth among online publishers in the UK is expected to grow by 15 per cent in 2013 according to the fifth annual organisation census by the Association of Online Publishers, while technology and data will play an increased role in re ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2013-04-10 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#increased role
#online publishers
Online publishers predict digital revenue will grow by 15% year on year in 2013, according to the annual census from the Association of Online Publishers (AOP). Continue reading at Media Week
[ Media Week | 2013-04-09 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#digital revenues
#15% year
Amber Books, an independent publisher specializing in nonfiction titles for the African-American market, marked its 15th anniversary in February by winning an NAACP Image Award in the Youth/Teen category for publishing Gregory Reed’s book, Obama Talks Back: Global Lessons—A Dialogue with... Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-03-29 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#15th anniversary
#nonfiction titles
Whatever Kindle sales were in Q4, they could have been better had Amazon not sold out of its flagship e-reader. Continue reading at AllThingsD
[ AllThingsD | 2013-01-30 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#kindle sales
Penguin UK c.e.o. Tom Weldon has said he expects at least 15% of Penguin's profit... Continue reading at The Bookseller
[ The Bookseller | 2013-01-18 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#tom weldon
#penguin uk
#penguin ventures
Move over Michelin and Frommer. There's a new guide to travel in town, and it comes from the creators of Wikipedia. Wikivoyage, currently in beta, will be ready for prime time on January 15, according to the travel site Skift. Earlier this week, Wikipedia founder Jimmy Wales said during an... Continue reading at PC World
[ PC World | 2013-01-12 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#colbert report
#comedy central
#prime time
Magazine closures were down nearly 50 percent from last year, while launches declined 5 percent, according to a recent report released by online periodicals database Mediafinder.com. Continue reading at Folio Magazine
[ Folio Magazine | 2012-12-11 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#magazine closures
Tuesday: Slate staffers pick their favorite books of 2012. Wednesday: The overlooked books of 2012. Thursday: Dan Kois’ 15 favorite books. Friday: The Slate Book Review Top 10. Continue reading at Slate
[ Slate | 2012-11-29 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#overlooked books
#dan kois
Marjorie Scardino, chief executive of Financial Times publisher Pearson, is stepping down at the end of 2012 and will be replaced by John Fallon, chief executive of Pearson's international education division. Continue reading at Media Week
[ Media Week | 2012-10-03 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#john fallon
Amazon has officially unveiled the 2012 vintage of the Kindle Fire, which is reportedly 44 percent more powerful than its predecessor. The service-orientated slate (as opposed to a gadget, which CEO Jeff Bezos claims nobody wants) comes with a bigger battery, a new processor and 1GB RAM --... Continue reading at Engadget
[ Engadget | 2012-09-06 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#barnes noble
#$40 cheaper
#closest rival
The Daily, News Corp.’s attempt to create a digital newspaper for the iPad age, is laying off nearly a third of its staff. The publisher plans to tell its workers today that it will fire 50 of its 170 employees, according to people famili ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2012-07-31 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#publisher plans