After Technology Sector, Mass Layoff Season Obtained Media & Entertainment Sectors; More Layoffs Are On The Way: The mass layoffs season has started to affect the media and entertainment industry globally, even though job losses from large tech companies continue to be a major source of stress for workers. Additionally, it has been impacted by job losses as advertisers cut back on spending due to the global economic slowdown.
Important to adhere until October of this year, the media industry has seen more than 3,000 jobs cut, and more are expected. Business at home After tech firms, the mass layoff season moves into the media and entertainment sector; there will be further job cuts. Season of mass layoffs arrives in the global media and entertainment sector. Up to 3000 jobs were lost this year, with more to come.
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Companies in the entertainment industry lay off staff following tech layoffs. Los Angeles: The mass layoffs season has started to affect the media and entertainment industry globally, even though job losses from large tech companies continue to be a major source of stress for workers. Additionally, it has been impacted by job losses as advertisers cut back on spending due to the global economic slowdown.
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 made cuts. According to reports, NBCUniversal, its entertainment division, is also planning layoffs.
By the end of the year, Protocol, the tech news website that Politico launched 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%.”
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