for the media industry job market last year, 2022 is already off to a strong start. It has been a roller-coaster ride for the job market over the past couple of years, and while some challenges remain, layoffs in the media industry might have finally stabilized.
In the first two months of the year, there were only 200 job cut announcements in the media sector. That figure was the lowest level since 1998, when there were 140 media job cuts, according to global outplacement firm Challenger, Gray & Christmas. There were zero media layoffs in January, and all 200 for this year were in February. For comparison, in the first two months of 2021, there were 1,731 cuts and 2,378 in 2022.
This comes after a record rebound for media hiring in 2021. Hiring recouped some losses as film and television production returned, theme parks reopened their doors and employers allowed employees to voluntarily return to offices. As a result, media saw an 87% decline in job cut announcements in 2021. Last year’s total was the lowest since Challenger, Gray & Christmas began tracking the industry in 2003.
However, despite the year's strong start, there are still some looming concerns for the media job market. The aggressive M&A activity in the industry over the past year or so will inevitably lead to some reorganization and restructuring following the completion of those mergers and acquisitions.
Erm…
I hope y'all get sued for spreading lies!
ANYONE NEED A BUSINESS LOGO OR A CARTOON VERSION?
Say it all you want, people are still dying.
Covid what-now?