Age of Obama: Paramount Lays Off 110 Employees
We keep hearing how much better the economy is getting under President Barack Obama, yet all we see and hear is bad news. The facts just don't support the administration's claim, unless they are influenced in various ways to look good like many media outlets seem to have been doing for the past few years.
Here's some more "good news" about the economy.
Deadline reported earlier this week that Paramount had laid off 110 of its employees. The layoffs were apparently not surprising as Paramount's second quarter revenues this year were down 29 percent. The layoffs were in the following areas: human resources, finance, legal and marketing, international home media distribution and informational technology.
Around the same time last year, Paramount laid off 120 employees. Paramount had a huge hit this year with World War Z, but that just wasn't enough.