News site Axios is cutting roughly 50 jobs amid volatility in the media landscape, Axios co-founder and chief executive Jim VandeHei said Tuesday. Axios’ CEO cited the need to make “difficult changes” to adapt to climate change in a memo to staff. “We are making some difficult changes to quickly adapt to a rapidly changing … Read more
Paramount Global wrote down the value of its cable networks by nearly $6 billion and announced it would cut 15% of its jobs on Thursday, even as the company’s broadcast business reported its first quarterly profit. Paramount shares rose more than 5% in extended trading. The loss reflects a shrinking audience for cable TV networks … Read more
Cash-bleeding media giant Warner Bros. Discovery, pulled the plug on Cartoon Network’s website. The David Zaslav-led company — which on Wednesday reported a huge net loss of nearly $10 billion, driven by a stunning $9.1 billion write-down for a decline in the value of its cable TV networks — redirected visitors to cartoonnetwork. com to … Read more
Cisco will cut thousands of jobs in a second round of layoffs this year as the networking equipment maker shifts focus to higher-growth areas, including cybersecurity and AI, people familiar with the matter said. The number of people affected could be similar to or slightly higher than the 4,000 Cisco employees laid off in February, … Read more
Knot Worldwide cut about 4% of its global workforce this week as part of an internal restructuring at the wedding planning giant, The Post has learned. Approximately 100 employees were laid off in The Knot’s sales and marketing teams, according to sources familiar with the matter. The company began notifying affected workers on Tuesday. A … Read more