When Paramount Global announced it was pink-slipping 800 employees, roughly 3% of its workforce, on Feb. 13, CEO Bob Bakish praised those sent packing for a job well done. “Your talents have helped us advance our mission of unleashing the power of content around the world,” he wrote in a companywide memo. “We are a better company because of you.”
It’s the kind of morale-draining note that’s been going around a lot lately. Since the start of the year, media, tech and video gaming industries have been hit hard by layoffs. Microsoft cut 1,900 employees across Xbox and Activision Blizzard. Amazon eliminated “several hundred” roles at Prime Video and its studio, Twitch, as well as audio platform Audible. Google’s parent company, Alphabet, also trimmed payrolls by several hundred. And the Los Angeles Times said goodbye to 20% of its newsroom.
Why are so many companies making layoffs now? A kind of copycat...
It’s the kind of morale-draining note that’s been going around a lot lately. Since the start of the year, media, tech and video gaming industries have been hit hard by layoffs. Microsoft cut 1,900 employees across Xbox and Activision Blizzard. Amazon eliminated “several hundred” roles at Prime Video and its studio, Twitch, as well as audio platform Audible. Google’s parent company, Alphabet, also trimmed payrolls by several hundred. And the Los Angeles Times said goodbye to 20% of its newsroom.
Why are so many companies making layoffs now? A kind of copycat...
- 2/21/2024
- by Jennifer Maas
- Variety Film + TV
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