Hollywood Exteriors And Landmarks - 2022

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Paramount lays off 3% of workforce as media cost-cutting wave grows

The move follows an earlier round of layoffs in August that aimed to curb Paramount’s US headcount by 15%.

6/10/25 8:45AM

Paramount Global is trimming more jobs as the legacy media company grapples with shifting audience habits and rising pressure to cut costs.

In a Tuesday memo, the three men who jointly make up the company’s “office of the CEO” — George Cheeks, Chris McCarthy, and Brian Robbins — said affected employees would be notified by the end of the day. Paramount had already begun the process of slashing 15% of its US-based workforce in August.

“We recognize how difficult this is and are very thankful for everyone’s hard work and contributions. These changes are necessary to address the environment we are operating in and best position Paramount for success,” the execs wrote.

Layoffs have swept the media industry in recent weeks. Last week, Disney cut hundreds of staffers across its TV, film, and corporate finance divisions. Warner Bros. Discovery also recently laid off employees in its struggling linear TV business.

Paramount shares were flat on the news and have risen more than 13% year to date.

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The slop bowl recession just sent Chipotle’s stock cratering

Chipotle dropped 18% yesterday, and its woes weighed on the wider slop bowl complex, dragging Cava and Sweetgreen down, too.

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J. Edward Moreno

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Most health insurers beat estimates in Q3, but investors have mixed feelings

While generally in line with expectations, medical costs still haven’t come down.

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eBay stock slumps on gloomy Q4 outlook despite solid Q3 earnings

Shares of eBay fell as much as 10.5% in premarket trading on Thursday morning after the company gave a lower-than-expected profit forecast for the important holiday shopping season.

The e-commerce giant reported solid numbers for the third quarter on Wednesday, with revenue up 9% as reported to $2.8 billion and gross merchandise volume rising 10% to $20.1 billion, topping the average analyst forecast of $19.4 billion, per Bloomberg.

However, concerns about the future somewhat overshadowed these results.

eBay outlined its profit outlook for the period ending in December to $1.31 to $1.36 a share, with revenue at $2.83 billion to $2.89 billion. According to Bloomberg-compiled data, this broadly matches Wall Street’s estimates for the top line, but misses on the bottom line, with analysts forecasting EPS to come in at $1.39 — suggesting the company expects some further margin pressure.

The company has been facing macroeconomic challenges since the US ended the de minimis tariff exemption in late August, with the online marketplace reliant on shipments. One small silver lining? CFO Peggy Alford highlighted a “less durable trend” on a post-earnings call: that as commodity prices for precious metals boomed, demand for bullion and collectible coins on eBay spiked.