Tumult in entertainment continues, with layoffs hitting Paramount this week. Around 1,000 staffers received pink slips on Wednesday, with 1,000 more job cuts expected, making up roughly 10% of the company's workforce (via Poynter).One Paramount executive told Variety it's "a bloodbath."Senior vice presidents at CBS Entertainment, marketing heads at MTV, talent executives across networks, and experienced professionals with decades in the business are out.The co-hosts of CBS Saturday Morning were among the cuts, as was first reported by The New York Post.Several CBS News streaming shows got canceled. The Johannesburg bureau closed.Paramount CEO David Ellison says the company needs to cut costs by more than $2 billion after completing its $8 billion merger with Skydance. He told the company in a memo on Wednesday that some roles were redundancies, and others were no longer aligned with the company's goals.According to Deadline's running tally, the entertainment industry has been hemorrhaging jobs all year. Disney cut hundreds in June. Warner Bros. Discovery initiated another round affecting cable operations. Lionsgate trimmed 6% of its workforce. CNN eliminated around 200 positions.Streaming was supposed to save us. Instead, it created content that can't be monetized as effectively as linear TV, and now companies are pulling back. Linear networks and marketing divisions are taking the hardest hits in these cuts.So what do you do if you're trying to make it as a filmmaker or creative professional right now? First, we need to stop assuming institutional stability exists. With more potential mergers on the horizon, we're all...
Published By: NoFilmSchool - Thursday, 30 October