business-media-and-entertainment2.72 min read "Stocks Mixed as S&P 500 Hits Fresh High and Intel Drags Down Nasdaq"
The media and entertainment industry is facing continued layoffs in 2024, with companies like Paramount Global, YouTube, Universal Music Group, Pixar, Business Insider, Los Angeles Times, and Sports Illustrated announcing significant staff reductions due to rising costs and debt-ridden balance sheets. Paramount Global's CEO cited the need to operate as a leaner company, while YouTube cut 100 employees, Universal Music Group plans to lay off hundreds, and Disney's Pixar unit reportedly plans to lay off 20% of its employees. Additionally, Business Insider and the Los Angeles Times announced layoffs, and Sports Illustrated laid off most or all of its staff after its publisher had its license revoked.
2 years ago•Source: Yahoo Finance
