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Paramount TV Studios to shut down as Shari Redstone-led media giant begins slashing 2K jobs ahead of likely Skydance merger

Paramount Television Studios will be closed as part of a broader cost-cutting effort ahead of parent company Paramount Global’s merger with Skydance Media, company executives said. The entertainment giant’s three co-chief executives announced the closure of the studio, known for producing shows such as “The Offer,” “Reacher” and “13 Reasons Why,” and began major layoffs […]

Time’s up on the Harris basement strategy. Liberal media minions need to do their jobs

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Cisco axing thousands of jobs in second round of layoffs amid shift to AI: report

Network equipment maker Cisco plans to cut thousands of jobs in its second round of layoffs this year as it shifts focus to higher-growth areas such as cybersecurity and artificial intelligence, according to people familiar with the matter. The number of people affected could be the same or slightly higher than the 4,000 employees Cisco […]

Paramount slashing thousands of jobs, writes down value of cable networks by $6B

Paramount Global on Thursday said it would write down the value of its cable-networks business by about $6 billion and cut 15% of its workforce, even as its streaming business reported its first quarterly profit. Paramount shares rose more than 5% in after-hours trading. The impairment reflects declining viewership for cable networks such as Nickelodeon, […]

Jobless claims drop after weak jobs report triggered concerns

Initial claims for jobless benefits fell by 17,000 last week, a small but positive sign for overall employment levels amid resurfacing fears of a U.S. economic recession. The Labor Department said Thursday that jobless claims for the week ending Aug. 3 fell to 233,000 from 250,000 the previous week. The four-week moving average increased by […]

Stocks plunge as weak jobs report, tech woes rattle Wall Street

Stocks fell sharply on Monday morning as growing concerns about the strength of the U.S. economy and the outlook for microchip production spooked Wall Street. The Dow Jones Industrial Average plunged 2.8% after trading on Monday, opening 1,100 points lower. Dow futures were down more than 1,200 points before the market opened on Monday. The […]

July Jobs Report ‘Generally’ ‘An Indicator of Continued Strength’

In an interview with Bloomberg on Friday, Acting Labor Secretary Julie Su responded to the July jobs report by saying that the number of jobs in July was “still above 100,000. It’s still broad-based,” adding, “Generally, this is an indicator that the economy remains strong.” Host Katie Greifeld asked, “You actually spoke to us back […]