Home » Media Downturn
Yahoo! to cut 14 percent workforce, 2,000 people to lose jobs
Tweet
Washington: Yahoo announced Wednesday it will cut 2,000 jobs, about 14 percent of its workforce, as the troubled internet company struggles to turn around its fortunes.
This could be the first of several rounds of cuts, CNN reported.
Yahoo's new CEO Scott Thompson, who joined the company in January, plans to provide more information...
Disney Studios to cut five percent jobs
Tweet
New York: Walt Disney Studios plans to cut up to 250 jobs, which comprise five percent of its worldwide workforce, a media report said.
The cuts would take effect as early as next week. The bulk of the workforce reduction will be in Burbank near Los Angeles, company insiders were quoted as saying by The Los Angeles Times.
The movie studio...
BBC shuts down Russian broadcasting service
Tweet
On Saturday 26 March, the BBC Russian live weekend programme, Pyatiy Etazh (Fifth Floor), broadcasts from the studio in Bush House, London, for the last time. Airing at 18.30 GMT (21.30 Moscow time), the final programme signals the end of the BBC's 65-year history of traditional radio broadcasting in Russian.
In a week of special programming...
BBC to lay off hundreds of employees
Tweet
London : Hundreds of BBC employees are all set to receive pink slips, for the news broadcasting organisation is going to slash hundreds of online jobs as part of swingeing cuts which will halve the size of its website operations.
A number of popular gardening, cookery and lifestyle websites will be axed or dramatically scaled back in economy...
Yahoo to cut features after latest round of layoffs
Tweet
San Francisco : Yahoo is to cut some prominent website features following the announcement this week that it is firing some 600 workers, or 4 percent of its work force.
While many of the targeted features have been little used, some, like the Delicious bookmark sharing service have proved popular among Yahoo users who fired off messages of...
50 radio, TV stations closed in Madagascar
Tweet
Johannesburg : The government of Madagascar has shut down 50 radio and television stations for operating illegally, a minister said.
Out of the 300 radio stations and 25 television stations officially recognised by the communication ministry, 50 were operating illegally, Communication Minister Felix Malazarivo was quoted as saying by Xinhua.
The...
Blockbuster files for bankruptcy
Tweet
Los Angeles :Video rental company Blockbuster, once one of the biggest and most noticeable chain stores on US high streets, filed for bankruptcy Thursday after years of constant losses.
With its distinctive blue and yellow storefronts, the company was not just another victim of the recession that has forced thousands of other entities to...
ABC News to layoff 25 percent editorial staff
Tweet
Washington: US broadcasting giant ABC News will downsize its editorial team and layoff up to 350 staff members, media reports said.
In a “fundamental transformation”, ABC News announced Tuesday that it was seeking to substantially reduce its staff, possibly by up to 25 percent, The New York Times reported.
For decades, the network...
Publicis Groupe braces GM’s bankruptcy
Tweet
Publicis Groupe has announced that the agencies of Publicis Groupe have worked with Old GM and will continue to work with New GM.
“We are now in a better position to quantify our financial exposure as a result of the GM bankruptcy .Since the filing of the bankruptcy, Old GM has signed agreements with some of our agencies and assumed...
Boston Newspaper Guild comes forward to save The Boston Globe
Tweet
Boston Newspaper Guild has come forward to save The Boston Globe daily which is facing a closure threat. Dan Totten, President, Boston Newspaper Guild in a statement has said that the guild will help Globe’s prospective buyers to promote good journalism and protect free speech.
“Boston Newspaper Guild members have spoken and,...