Planned Paramount and Pixar cuts add to Hollywood's woes — here are 16 entertainment companies that have slashed staff
The Hollywood strikes may be over, but the entertainment industry continues to face turmoil. On top of the writers' and actors' walkouts that shut down almost all film and TV production for several months in 2023, the business is going through a retrenchment that started in 2022 when Netflix lost subscribers for the first time , causing Wall Street to sour on streaming. The box office hasn't fully recovered from the pandemic, and advertisers are cutting back , leading companies from Disney to Netflix to Amazon to make wide headcount cuts. The motion picture and sound recording industries shed 44,000 jobs from May to October, when employment stood at 436,000 jobs, according to the US Bureau of Labor Statistics . The industry has shrunk by 26% as the strikes accelerated a contraction in employment that was already underway since its 2022 peak, according to a study by Otis College of Art and Design, which is the first in a series with the Otis College Report on the C...