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The subscription video-on-demand service's staff was let go, and the app will shutter later in the year.Noggin, Paramount Global‘s subscription video-on-demand service targeted at young kids, is shutting down. The platform is a casualty of a round of layoffs that saw 800 staffers across Paramount lose their jobs. CEO Bob Bakish said the layoffs are part of “streamlining costs” at the conglomerate. Noggin’s entire staff is among the 800 layoffs. The app will stop taking on new subscribers and will shutter sometime later this year, as first reported by trade publication Kidscreen. Noggin features a library of educational games, books...

Catherine Herridge, probably the best reporter that CBS has, as well as about 20 other CBS reporters, were let go in a blood bath firing by Paramount Global, with 800 people total losing their jobs. The Washington Bureau, where they covered national security and intelligence, was hit hard. The NY Post suggested there might be more than "just cost-cutting." They note sources said Herridge "had clashed" with CBS News president Ingrid Ciprian-Matthews. CBS isn't talking, according to the Post. Herridge just posted on X Monday about more damaging news to Joe Biden, noting that the House Oversight Committee wanted the...

How can anyone out there possibly believe that the U.S. economy is doing well? As you will see below, the number of homeless Americans has risen to the highest level ever recorded, and large companies all over the country are laying off workers in droves. As I have discussed previously, the number of Americans that were laid off in 2023 jumped 98 percent compared to the year before, and now during the first month of 2024 it feels like we are being hit by a tsunami of layoffs. It literally seems like someone has turned a fire hose on, but...

The pace of job cuts by U.S. employers accelerated at the start of 2024, a sign the labor market is starting to deteriorate in the face of ongoing inflation and high interest rates. That is according to a new report published by Challenger, Gray & Christmas, which found that companies planned 82,307 job cuts in January, a substantial 136% increase from the previous month. However, that is down about 20% from the same time one year ago. It marked the second-highest layoff total for the month of January in data going back to 2009. "Waves of layoff announcements hit U.S.-based...

The Messenger is shutting down less than a year after the fledgling media company opened its doors with ambitions of building a leading news brand. In a statement to staff Wednesday afternoon, founder Jimmy Finkelstein wrote that the company would close, “effective immediately,” due to insurmountable financial difficulties. “Over the past few weeks, literally until earlier today, we exhausted every option available and have endeavored to raise sufficient capital to reach profitability,” Finkelstein wrote. “Unfortunately, we have been unable to do so, which is why we haven’t shared the news with you until now. This is truly the last thing...

The payment company's CEO Alex Chriss told staff on Tuesday that another 9% of the workforce — about 2,500 positions — will be slashed. The news comes after PayPal said it would reduce its headcount by about 2,000 in January last year."We are doing this to right-size our business, allowing us to move with the speed needed to deliver for our customers and drive profitable growth," Chriss wrote in a memo. "At the same time, we will continue to invest in areas of the business we believe will create and accelerate growth." The cuts will come from current positions as...

UPS announced Tuesday that it will cut 12,000 jobs as part of a bid to save $1 billion costs. Managers and contractor positions will make up most of the layoffs. The job cuts come as UPS issued a disappointing sales outlook for this year, saying it expects global revenue of between $92 billion to $94.5 billion. That would be up from the $91 billion in revenue it reported for 2023, but analysts surveyed by Refinitiv had been expecting revenue of at least $95.6 billion.

United Parcel Service said Tuesday that it plans to cut about 12,000 jobs this year, a move that the package-delivery giant said would result in $1 billion in savings. Most of the cuts will be to full-time and part-time management positions and contract workers, and executives said they don’t expect these jobs to return when parcel volumes return. UPS has around 85,000 workers in management. [Snip] The job cuts were unveiled after the company said its revenue declined in the last quarter of 2023 as volumes in both its domestic and international businesses dropped.

Megyn Kelly is joined by Andrew Klavan, author of "The House of Love and Death,” to discuss major layoffs at the Los Angeles Times, Sports Illustrated potentially shutting down, media outlets losing audience and money after going woke, and more.

Layoffs ‘disproportionately’ impact people of color, according to the chair of the L.A. Times Guild Unit Council Caucuses within the Los Angeles Times Guild designed to represent diverse communities within the newsroom will be "decimated" by the liberal paper’s decision to lay off at least 115 staffers this week, according to the Guild. "If these layoffs are allowed to go through, our caucuses will be decimated. The Latino Caucus will lose 38% of its members. The Black Caucus will lose 33% of members. The AAPI [Asian American and Pacific Islander] and MENASA [Middle East, North Africa and South Asia] caucuses...

Bank of America (BAC) has made headlines by announcing layoffs of approximately 20 bankers in Asia, marking the first major downsizing move in 2024. The decision comes as China and Hong Kong markets continue to underperform, leading to a growing bearish sentiment among smart money players. This move sets the tone for potential shifts in the financial landscape as major institutions respond to market challenges. The economic landscape is painted with shades of concern as the Richmond Fed Survey reveals three consecutive declines. The performance post-lockdowns has experienced a downward trajectory since the 2008 Global Financial Crisis (GFC). This trend...

The Los Angeles Times, the largest newspaper in California and one of the biggest by circulation in the entire United States, was hit with a heavy round of layoffs Tuesday. The move to terminate more than 110 positions within the company has been widely rumored for several weeks — even prompting a one-day walkout protest from the newsroom last week — but the scale of the layoffs, and when those layoffs would happen, was not widely known until Tuesday morning.

Paramount Global — the parent company off CBS, Paramount Pictures, Showtime, and numerous other media properties — is reportedly set to lay off “hundreds” of employees across nearly all of its divisions. The impending cuts represent the latest Hollywood bloodbath following layoffs at other corporations, including Disney, NBCUniversal, Amazon MGM Studios, and Universal Music Group. Hollywood is feeling the squeeze on multiple fronts. Households continue to cut the cord by the millions while the advertising market is still in the doldrums due to poor consumer sentiment tied to President Joe Biden’s economic policies. Meanwhile, consumers are cutting back on discretionary...

Struggling online retailer Wayfair on Friday said it will slash around 1,650 employees — or 13% of its global workforce of roughly 14,000 — just weeks after its billionaire CEO caused a stir by saying workers should log longer hours. Niraj Shah, the boss of the Boston-based furniture-selling e-commerce site, said the company needed to cut costs — its third round of layoffs since summer of 2022 –after going “overboard” on hiring during the pandemic.

I have no beef with Sports Illustrated, but they made their bed when they went ‘woke’ with the transgender swimsuit edition. It was the most straightforward edition of that publication, and they ruined it. Many ‘Bud Light’ comparisons are being made because the magazine announced that virtually all staff will be fired. The revenue isn’t there to sustain the brand, so this Friday was like the Red Wedding for a lot of people (via Washington Post): Devastating news. I grew up reading SI cover to cover. It was a huge influence on me wanting to pursue a career in sports...

A tech company employee who went viral for filming her firing and sharing it on TikTok says her video has brought a flood of support. “I don’t regret sharing that,” ex-Cloudflare employee Brittany Pietsch told The Wall Street Journal. “I have received so many messages of people telling me, ‘I wish I would have stood up for myself the way you did.’ ” Pietsch, 27 years old, shot to social-media fame last week with a 9-minute video of herself repeatedly asking two Cloudflare representatives why she was being let go, and why her manager wasn’t on the call. “To be...

Google has laid off over a thousand employees across various departments since January 10th. CEO Sundar Pichai’s message is to brace for more cuts. “We have ambitious goals and will be investing in our big priorities this year,” Pichai told all Google employees on Wednesday in an internal memo that was shared with me. “The reality is that to create the capacity for this investment, we have to make tough choices.” So far, those “tough choices” have included layoffs and reorganizations in Google’s hardware, ad sales, search, shopping, maps, policy, core engineering, and YouTube teams. “These role eliminations are not...

Poor, poor woke Disney is having to make more major cuts. Pixar, the animation studio that brought you classics like the Toy Story movies and The Incredibles, and now makes movies no one wants to see like Elemental, Soul, and Turning Red, have decided they need to make some cutbacks. Currently, Pixar employs 1,300 workers but that number is likely to be slashed to under 1,000 with the newest business decision. No solid number has been determined, and none of the layoffs are happening right away. But by the end of this year, Pixar is going to look A LOT...

Hi everyone, senior tech reporter Kylie Robison here. I don’t want to say the L-word first, but it’s starting to look like some feelings are changing. Layoffs, not love, are in the air again. Google slashed hundreds of jobs today, while Instagram cut several dozen of its own on Wednesday Also this week, Amazon’s Twitch and Prime Video divisions announced hundreds of layoffs each, or a 35% reduction in staff, and AI startup Humane, which raised over $200 million and plans to ship its new wearable in the coming months, just cut 4% of its employees. Adding to the bloodshed,...

So the pullback in ESG firms continues, eh? John had a post in December about corporations and campuses who were beginning to get pushback on their DEI initiative. BlackRock was one of those named, doing some verbiage shuffling to avoid legal challenges, among other problems besetting the grievance and equity industry.…Investment manager BlackRock (BLK.N), which received a letter in April, removed language stating a scholarship was “designed for” members of specific underrepresented groups…At the end of the month word broke that the state of Tennessee was suing the firm for “misleading” ESG policies and harming the bottom line for investors.The...