Paramount writes off 1.5 billion in streaming debt

[meStevo]

Huh..they are losing money on streaming and are laying off people...they are cutting costs by reducing expences

Layoffs are a product of almost every merger of any size (and corporate reorganizations like what Paramount is doing with Showtime and MTV). 120 people in the Showtime division in this case as the company (with ~23,000 employees) restructures.

But yeah, they are communicating the cost savings as redundancies are reduced, and they feel some assets are less valuable in their $55b+ portfolio and may write down up to $1.5b of them.

 

[Juan]

Layoffs are a product of almost every merger of any size (and corporate reorganizations like what Paramount is doing with Showtime and MTV). 120 people in the Showtime division in this case as the company (with ~23,000 employees) restructures.

But yeah, they are communicating the cost savings as redundancies are reduced, and they feel some assets are less valuable in their $55b+ portfolio and may write down up to $1.5b of them.

Showtime is going bye bye 120 people is 25% of showtimes work force

 

[meStevo]

Showtime is going bye bye 120 people is 25% of showtimes work force

Well, with your prediction history the other 75% would probably breathe a sigh of relief.