February 14, 2024
Paramount Makes Major Shakeup as Media and Tech Cuts Continue
Major shakeups in media and tech continue to dominate the landscape in 2024. Paramount Global is laying off 800 employees, approximately 3% of its workforce. The cuts come as the company consolidates franchises and adapts to changes in media consumption. The Paramount layoffs also affected CBS News—nearly 20 staffers were let go, including top correspondents Jeff Pegues and Catherine Herridge.
There’s no sign that tech sector layoffs will slow down any time soon. Grammarly is undergoing business restructuring by eliminating 230 positions. Instacart also laid off nearly 250 employees while Mozilla is scaling down by shedding 60 positions. Mounting job losses in 2024 have executives concerned. Nearly 40 percent of business leaders recently surveyed believe that layoffs are likely at their organization.
Generative AI Use Increases while Managers Fret Over Future
More experience with AI is shifting opinions among communicators and PR pros. The Institute for Public Relations has published a new report summarizing the use of generative AI among communicators. Findings from the PR software company Muck Rack show that use of generative AI among PR pros increased from one-third to two-thirds from March to December 2023.
The onslaught of generative AI tools and policies are reshaping the global economy in real-time. While many business leaders still believe automation will benefit their organizations, growing numbers of managers are concerned. More than half of senior white-collar managers recently surveyed are worried their jobs could be automated by generative AI, leading to a middle-management collapse.
More Executives are Looking for Strong Communicators
Good communications have always played an integral role in stemming the flow of misinformation. The latest Edelman Trust Barometer shows continued distrust, with more than 60% of respondents concerned that institutional leaders intentionally mislead people with false information. Communicators can help leaders rebuild trust through strategies that prioritize listening, quality content creation, and leveraging trusted peers to rebuild public trust.
Communication remains the most sought-after job skill on LinkedIn, according to new data from the business networking site. More global executives are looking for strong communicators, with large majorities of business leaders prioritizing human skills.
Sequence Summaries: Large Layoffs, AI Increases, and Key Communications
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