In recent months, various entertainment companies in Hollywood have conducted layoffs and cut projects. Disney’s television division laid off 140 workers, Warner Bros Discovery reduced the company’s headcount by over a thousand workers, and 30 Paramount Television Studios employees were let go. Companies in the cable television industry are facing steep competition from streaming companies, and this has caused studios to conduct layoffs to reduce costs. Cable television programming is making a comeback this year compared to late 2023, as more shows are getting the green light. However, cable television production has not returned to peak levels, and this could be due to some programming productions moving abroad due to lower costs.
See "Cable television’s struggle against streaming leads to layoffs in Hollywood", Ryan Faughnder, LA Times, August 22, 2024