Paramount Global has begun a planned round of layoffs, telling U.S.-based employees that those affected by the cutbacks will be notified by the end of Tuesday. An internal memo from CEO Bob Bakish (read it below) did not disclose numbers. A person familiar with the cutbacks estimated the total number at 800, which is consistent
Bob Bakish
“The notion that the strikes saved the company is wildly overstated,” Bob Bakish said of Paramount today. The Paramount Global boss acknowledged that “the strike is accretive to cash in 2023 and that is true for the [whole] industry” but rubbished the notion of the labor action saving the company, calling it an “overstatement.” “We
EXCLUSIVE: The major U.S. studios heading to Mipcom are proving global streaming and third-party licensing “can co-exist and work together,” says the event’s director. Lucy Smith, Director of the Entertainment Division at Mipcom Cannes organizer RX France, told Deadline the “assumption of recent years that streaming would somehow upend what happens in distribution” had faded