I guess distributing Michael Bay movies has finally taken its toll on Paramount.
The company announced they are eliminating 110 positions from the company including spots in finance, IT, legal, and marketing. This follows previous layoffs Paramount made in 2008 where they reduced their workforce by 7% across the board.
This also follows a rather low income year for the studio. Ironically enough, the biggest hit they had this year was World War Z which brought in over $500 million at the box office. It is joined by flops such as Hansel & Gretel: Witch Hunters and Pain & Gain. Despite the flops Paramount is expected to end on top with the releases of Nebraska, The Wolf of Wall Street, and Anchorman: The Legend Continues. Marketing is currently working on campaigns for these films, but seeing that the marketing department is suffering layoffs who knows how in depth the campaigns will be.
In addition to Paramount layoffs, NBC announced that NBC Digital will be reducing their workforce by 5%. Not a great time to work in the entertainment industry, I guess.
Movie news, movie reviews, and basically whatever else I want to talk about. Come on in and join the party.
The past seven days
-
After their victory in the 74th Hunger Games sparks a rebellion across the districts of Panem, Katniss Everdeen and Peeta Mellark return to ...
-
In the return of Arrested Development , Michael Bluth struggles to start a new life away from the Bluth Company only to have several bumps i...
-
Fifty Shades of Grey fans are causing quite the ruckus in regards to the casting of Charlie Hunnam and Dakota Johnson as Christian Grey and...
-
So... The premiere of The Walking Dead last night was AWESOME! I don't want to spoil too much, but if you haven't been watching th...
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment