Thread regarding Paramount Global layoffs

Stock is cratering AGAIN: get ready for even bigger layoffs

Despite all the irrational exuberance a couple of weeks ago when Netflix dropped out of the bidding for WBD, Paramount stock hit its lowest point since TWO THOUSAND AND NINE today.

Seems the reality check finally reached buyers that a $79,000,000,000 debt load is completely unserviceable by any company, let alone one that's currently bleeding more than $300,000,000 per quarter.

But don't worry: Davey Boy is going to "reinvent the industry!"

The seven people who will still be working a PSKY (or whatever the heck he calls it) a year from now should definitely not expect a STIP payout.

#Layoffs #Debt #Stock
by There is no dancing in the sky. Only falling.
| 1 view | | 9 replies (last March 17) | Reply
Post ID: @OP+1kkf19a37
Comment! It's anonymous!

9 replies (most recent on top)

OOF, it was $9.94 when I posted this less than a week ago, and today it dwindled to $9.23. That's worse than at ANY time under Bakish or under the three-doufus structure that followed.

I love this for the Ellisons and their inept senior "leadership" appointees; I hate it for everyone else who's given so much time, energy, effort, and care into this place over the years.

by There is no dancing in the sky. Only falling.
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Post ID: @15m+1kkf19a37

@kc watch for the leak but the next phase will be quiet with buyout offers for tenured leadership and those will walk away, the SVP/VP/Director levels will be gone in due time

by Anonymous
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Post ID: @q7+1kkf19a37

@kc that would be the wise way to approach it, but stranger things have happened.

by Anonymous
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Post ID: @kj+1kkf19a37

@fy Nah. Layoffs would have leaked already. I think they are counting on losing people after they announce phase 2 in place of layoffs. So the decisions of who to cut make themselves.

by Anonymous
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Post ID: @kc+1kkf19a37

Layoff happens after March 20th WBD shareholder vote as they already have it ready to go following the Bain audit and they need to show restructuring fast

by Anonymous
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Post ID: @fy+1kkf19a37

@bv You forgot the "/s," so people are taking you seriously. Dry humor doesn't work here unless you clarify that that's what it is.

by Been There, Glad To Be Done With That
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Post ID: @e2+1kkf19a37

I don’t think so. Leadership announced last year that the layoffs would be "one and done". I trust them.

by Anonymous
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Post ID: @bv+1kkf19a37

Ownership don’t care about share price or stock holders. They’re running this like it’s private. The red bird guys are savvy and won’t let this go south. What do you think the stock would be worth if they lost and was owned by Netflix? They’d be terminal as Netflix could just stop buying from paramount and tout the web content. But, yeah if you get any comp in stock it’s worthless

by Anonymous
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Post ID: @bt+1kkf19a37

brutal & agree on all. What's everyone's feeling about the possibility of the merger getting blocked because this raises an additional red flag

by Anonymous
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Post ID: @bc+1kkf19a37

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