As marketers curtail spending amid the global economic slump, the media and entertainment industry has also been impacted with job losses during the Big Tech layoff season. Up until october of this year, the media industry has seen more than 3,000 positions lost, and more are expected. In spite of the recession, Warner Bros. Discovery has continued to lay off workers. chris Licht, the CEO of CNN, gave staff notice last week that there would be further layoffs starting in January, according to sources who spoke to Axios.
A hiring freeze, layoffs, and other cost-cutting initiatives have been announced by media outlets, from Paramount Global to The Walt Disney Company. "Last month, Comcast's cable division announced cuts. NBCUniversal, its entertainment division, is also anticipating layoffs "reports referred to. By the end of the year, Protocol, the tech news website that Politico started in 2020, will close. According to Axios, there will be about 60 layoffs. After making earlier cuts this month, Vice media CEO Nancy Dubac told staff that the company plans to cut costs by "up to 15%."
In the wake of the epidemic, analysts claim that the newspaper sector is dealing with increasing labour and delivery costs. After terminating 400 employees in August, "Gannett, the parent company of USA Today, announced it was considering another round of layoffs, in addition to furloughs," according to the report. According to a Crunchbase news count, more than 73,000 workers in the US tech sector had been let go as of mid-November. Large IT companies like Netflix have reduced employment this year.
A hiring freeze, layoffs, and other cost-cutting initiatives have been announced by media outlets, from Paramount Global to The Walt Disney Company. "Last month, Comcast's cable division announced cuts. NBCUniversal, its entertainment division, is also anticipating layoffs "reports referred to. By the end of the year, Protocol, the tech news website that Politico started in 2020, will close. According to Axios, there will be about 60 layoffs. After making earlier cuts this month, Vice media CEO Nancy Dubac told staff that the company plans to cut costs by "up to 15%."
In the wake of the epidemic, analysts claim that the newspaper sector is dealing with increasing labour and delivery costs. After terminating 400 employees in August, "Gannett, the parent company of USA Today, announced it was considering another round of layoffs, in addition to furloughs," according to the report. According to a Crunchbase news count, more than 73,000 workers in the US tech sector had been let go as of mid-November. Large IT companies like Netflix have reduced employment this year.
