What's behind Hollywood's latest wave of layoffs? The business is in reset mode

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It's not just labor unrest or the cable-amity at Paramount Global and Warner Bros. Discovery. The business is going through a reset.

Editor's note: Wide Shot will be off next week, with Hollywood Inc. senior editor Ryan Faughnder taking vacation. Last year, Hollywood braved the summer of strikes. This year, a cruel mirror image has appeared: a brutal season of layoffs. The entertainment industry is reeling from cuts at Paramount Global, which last week began a deep cost-cutting effort that is expected to eliminate 2,000 jobs, or 15% of staff, by year's end ahead of a long-in-the-works ownership change.

Fortnite’ maker debuts mobile storefront after years in court Longtime YouTube executive joins Disney in key tech role WGA warns writers not to work with Randall Emmett associate Warner Discovery puts TV networks under Channing Dungey Fede Álvarez's 'Alien: Romulus' opened with a solid $41.5 million in the U.S. and Canada with positive reviews for the latest installment in the Walt Disney Co.-owned horror and science fiction franchise.

 

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