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Paramount shutters television studio, begins major layoffs ahead of Skydance merger (www.latimes.com)

submitted 2 months ago by homesweethomeMrL@lemmy.world to c/usa@midwest.social

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No, “Star Trek” will not be affected. (CBS studios makes those; this is the PTVS studio).

Paramount leaders also announced last week that they would reduce their U.S.-based workforce by 15% in an effort to save $500 million in annual costs. On Tuesday, the managers said affected employees would be notified in three phases “starting today and continuing through the end of the year.”

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[–] homesweethomeMrL@lemmy.world 9 points 2 months ago (1 children)

So 2,000 US people will lose their jobs “sometime in the next four months” so the studio can save 5% of the owner’s net worth. (0.6% of his dad’s net worth). I guess they plan to make money with labor from other countries instead. It worked pretty well for Wal-Mart?

[–] Eldritch@lemmy.world 2 points 2 months ago

In the short term this is absolutely horrible. But this is an opportunity in the long term. With these companies Outsourcing more and more work. Much of the creative work to AI. Their product will be lacking heavily overall.

Much like with music. The barriers to video editing and production have gotten extremely low compared to what they used to be. Hopefully a lot of these people find a way to make an opportunity of this and go into business for themselves to stick it to their old bosses.

I don't watch broadcast or cable television. I even watch very little on the big streaming platforms. I would much rather give my attention span to smaller more creative passion projects. Then just more reality TV spam or AI pumped out dribble