Laid-off Hollywood Execs Panic as Jobs Vanish

By Daniel Walker | March 20, 2024

'full-scale depression'

Hollywood executives have been hit hard by recent budget cuts and layoffs at major studios due to declining cable subscriptions, lower TV advertising revenues, and streaming losses.

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via CNBC

The situation is described as a "full-scale depression" and a "worst-case scenario" by industry insiders. “This is a full-scale depression for the entertainment industry,” a TV executive stated.

The entertainment industry

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via pixabay

Laid-off executives report facing long-term unemployment as the entertainment industry and broader economy show few signs of recovery.