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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Multipurpose cooking devices that can more or less do it all can be incredibly handy to have in the kitchen. A single product that can pressure cook, air fry, bake, slow cook and even sous vide can save you lots of money and counter real estate. Ninja's Foodi pressure cookers are among the best... Continue reading at Engadget
[ Engadget | 2023-04-20 14:44:07 UTC ]
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The newest of four yearly reports from Hachette Book Group sees staff BIPOC diversity increasing by 2.5 percent in 2022. The post Hachette Book Group: BIPOC Diversity at 36.4 Percent appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2023-04-11 14:35:23 UTC ]
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The first monthly StatShot report from the Association of American Publishers in 2023 shows trade revenues up 3.1 percent in January. The post AAP StatShot: US Book Industry Gains 3.5 Percent in January appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2023-03-21 18:18:29 UTC ]
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A more interesting autofiction: DK Nnuro examines how Black writers are “appropriating” their way into a literary movement. | Lit Hub Criticism Is the “first job” memoir dead? Bryony Lau makes the case for new narratives of work. | Lit Hub Criticism “If Don Draper is a metaphor for white... Continue reading at Literrary Hub
[ Literrary Hub | 2023-03-15 10:30:59 UTC ]
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Notable authors with upcoming works include current affairs commentator Nancy Grace, Pulitzer Prize-winner Dale Maharidge and TV writer and producer Tom Straw. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-03-14 04:00:00 UTC ]
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Overall book sales in China decreased in 2022, but online sales driven by TikTok and other short-video platforms are growing rapidly. The post China’s Book Market in 2022: An 11.77-Percent Decline appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2023-02-07 16:24:29 UTC ]
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The publisher, which has been embroiled in a labor standoff since November, will lay off 5% of its North American staff by June 30, the end of its current fiscal. CEO Brian Murray said the company was facing lagging demand and “unprecedented supply chain and inflationary pressures." Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-01-30 05:00:00 UTC ]
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Presented in Venice at the Mauri School, the 2022 report from Italy's publishers shows gains over the pre-pandemic era, amid market shifts. The post Italy’s Book Market Up 13.3 Percent Over 2019 appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2023-01-27 17:39:09 UTC ]
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This week, Apple announced and set the release date for the new MacBook Pros and both Amazon and Best Buy rushed to offer a slight discount on pre orders. Amazon also knocked a hefty 40 percent off many of their Fire Tablets, including the new Fire HD 8. Bose's QC II earbuds are back down to... Continue reading at Engadget
[ Engadget | 2023-01-20 17:15:19 UTC ]
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The Börsenverein reports on book sales and bestsellers in German book market in 2022 and depicts 'a major economic challenge.' The post German Book Market in 2022: Sales Down 2.1 Percent appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2023-01-05 14:26:20 UTC ]
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Intending to use 100-percent renewable energy by 2026, Hachette Livre turns to reducing overproduction, freight, and more. The post France’s Hachette Livre: A 30-Percent Carbon Reduction by 2030 appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2023-01-05 12:30:37 UTC ]
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A spokesperson told the Associated Press that the list will go on "hiatus for the remainder of the year.” Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-12-13 05:00:00 UTC ]
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At a UBS media conference earlier this week, Bob Bakish, CEO of Simon & Schuster parent company Paramount Global, said that with the sale to Penguin Random House now dead, the company still plans to divest the publisher, though he didn’t say how or when. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-12-07 05:00:00 UTC ]
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The parent of Simon & Schuster closes the door on an appeal, ending the Bertelsmann/PRH attempt to acquire Simon & Schuster. The post Paramount Terminates the PRH-Simon & Schuster Deal appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2022-11-22 18:51:28 UTC ]
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After a judge blocked the sale of Simon & Schuster to Penguin Random House, S&S parent company Paramount pulls its sale offer and declines to appeal. Continue reading at Los Angeles Times
[ Los Angeles Times | 2022-11-21 22:50:02 UTC ]
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Penguin owner Bertelsmann will not appeal US judge’s ruling that merger would be illegal because it would hit authors’ payPenguin Random House, the world’s largest book publisher, and rival Simon & Schuster have scrapped a $2.2bn deal to merge, Penguin’s owner said in a statement on... Continue reading at The Guardian
[ The Guardian | 2022-11-21 22:41:38 UTC ]
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Penguin Random House’s attempt to acquire Simon & Schuster has officially ended. The news came in a filing by S&S parent company Paramount Global with the SEC, which said that, in accordance with the purchase agreement terms, it had terminated the deal. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-11-21 05:00:00 UTC ]
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We've rounded up the 15 best fiction books published this year to gift any lover of novels or story collections in your life this holiday season. Continue reading at Los Angeles Times
[ Los Angeles Times | 2022-11-02 16:00:00 UTC ]
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Faced with slowing industry sales and rising costs, HarperCollins has eliminated what it called a "small number" of positions, and instituted a number of other measures in a bid to "operate as efficiently as possible," CEO Brian Murray announced to employees on October 13. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-10-13 04:00:00 UTC ]
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In today's German and international news conferences, key elements of Frankfurt Book Fair were spotlighted by organizers. The post Frankfurt Aims for 70 Percent of Its Pre-Pandemic Size appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2022-09-08 20:35:29 UTC ]
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