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 ]
Nielsen Book has joined forces with library and information association CILIP to sponsor its reading campaign alongside National Libraries Week in a new two-year partnership. Continue reading at The Bookseller
[ The Bookseller | 2019-07-16 17:15:51 UTC ]
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Streaming services love pluses. Just take a look at the number of companies that have tacked the "+" sign onto the ends of their new OTT services. There's Apple, which in March announced Apple TV+, an ad-free subscription add-on to its digital media player Apple TV that will have original... Continue reading at AdWeek
[ AdWeek | 2019-07-16 12:00:05 UTC ]
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In his op-ed for Forbes last year, Panos Mourdoukoutas, a professor of economics at LIU Post in New York, suggested that Amazon stores should replace libraries to save taxpayers money. Following the backlash this preposterous suggestion created, Forbes took the article down. But the outpouring... Continue reading at Literrary Hub
[ Literrary Hub | 2019-07-12 08:48:09 UTC ]
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The digital content market for libraries is about to get even more unsettled; Elsevier cuts off researchers at the University of California; and librarians gear up for the 2020 census. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-07-12 04:00:00 UTC ]
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A coalition of some 44 public libraries across Washington state is organizing a six-month boycott of Blackstone Publishing's digital audiobooks after the publisher announced last month that it would withhold new release audio titles from libraries for 90 days. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-07-12 04:00:00 UTC ]
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A National Libraries Conference, due to take place later this month, aims to ensure the service’s “continued survival” in a digital age, organisers say. Continue reading at The Bookseller
[ The Bookseller | 2019-07-11 05:47:50 UTC ]
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From oldest to largest, most popular to smallest, explore the planet and update your travel plans with this list of the best libraries in the world. Continue reading at Book Riot
[ Book Riot | 2019-07-10 10:39:02 UTC ]
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Essex County Council has announced it is ditching plans to close its libraries and their future is secure for the next five years following a huge community campaign, supported by authors including David Walliams and Jacqueline Wilson. Continue reading at The Bookseller
[ The Bookseller | 2019-07-09 00:31:48 UTC ]
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Library campaigners are calling on Essex County Council to launch a new consultation on the future of its libraries in a new bid to save the services. Continue reading at The Bookseller
[ The Bookseller | 2019-07-08 10:24:45 UTC ]
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Critical Linking, a daily roundup of the most interesting bookish links from around the web, is sponsored by Book Riot’s ... Continue reading at Book Riot
[ Book Riot | 2019-07-07 10:30:45 UTC ]
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A movement supported by nonprofit groups and libraries is creating literary spaces in places where children find themselves with time on their hands. Continue reading at The New York Times
[ The New York Times | 2019-07-02 09:00:13 UTC ]
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Microsoft has closed its ebook store—and will soon make their customers' libraries disappear along with it. Continue reading at Wired
[ Wired | 2019-06-30 11:00:00 UTC ]
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Brand offers financial support to help restore parks, libraries and leisure centres. Continue reading at Media Week
[ Media Week | 2019-06-28 09:22:56 UTC ]
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An agreement between publisher Springer Nature and Sweden's Bibsam consortium - made up of institutional libraries and funders - will see the two share the costs of publishing in Springer Nature's Open Access journals. Continue reading at The Bookseller
[ The Bookseller | 2019-06-27 01:33:22 UTC ]
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Writers say a lack of funding and cuts to libraries mean children from disadvantaged backgrounds are missing out when it comes to school visits, after a new report shows that independent schools are far more likely to have welcomed an author in the past year than state schools. Continue reading at The Bookseller
[ The Bookseller | 2019-06-26 04:33:29 UTC ]
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The libraries cited unsustainable costs in ending the service. Cinephiles took to social media with their reactions. Continue reading at The New York Times
[ The New York Times | 2019-06-24 23:21:19 UTC ]
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Reynolds earned a standing ovation for an intensely personal keynote that touched on family, religion, his closest friends and relationships, the power of narrative, and the central, “sacred” role libraries play in people’s lives. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-06-22 04:00:00 UTC ]
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Among the week's headlines: the 2019 ALA Annual Conference kicks off in Washington DC; Librarians cry foul over Hachette's new digital terms for libraries; and the DPLA wins a major grant. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-06-21 04:00:00 UTC ]
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In Weare, New Hampshire, a small town about 45 minutes from the state’s southern border with Massachusetts, the local newspaper Continue reading at Editor & Publisher
[ Editor & Publisher | 2019-06-20 19:15:00 UTC ]
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Among the stories making news this week: veteran bookseller and library advocate Tim Coates releases a reader-focused survey; more drama over Drag Queen Storytimes; and what to expect from all the talk of antitrust action in the tech sector. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-06-14 04:00:00 UTC ]
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