Breaking news as Paramount announces Mass layoffs set to begin today Tuesday September 24th as a result of them Closing down their massive facility and Television studio located in Hollywood California so we're going to talk about That and talk about what impacts that Has on the localized Community whether You're a renter homeowner small and big Businesses I'm also going to show you Guys that mass media layoffs are Spreading virtually every single company That's involved in media is experiencing Rounds of mass layoffs then we're going To ask really important questions like Why and I'm not just going to talk about The Federal Reserve we're also going to Ask are these layoffs a result of the Strikes just like UPS just like the Autoworker union or maybe it's a result Of the media losing all trust from the Public either way let's get started now This is an article from New York post Posted today September 24th Paramount Global bloodbath continues with phase Two of planned 2,000 people job cut 90% Of those reductions will be complete by The end of Tuesday which is today the Final day for about 1,800 people is Today and again you guys I'm going to Show you by accessing Google Maps just How massive this classic really Historical facility really is their CEO Goes on like the entire media industry
We are working to accelerate streaming Profitability while at the same time Adjusting to the evolving landscape in Our traditional businesses now I'm Wondering by streaming profitability are They referring to places like YouTube it Seems like YouTube is growing like crazy So I don't know and by evolving Landscape are they saying that people no Longer trust the media because we now Get that the elites are in control of The media whether it's CNN or Fox News I Don't know let me know what you guys Think but this goes on days like today Are never easy but they still have a job Whoever's writing that still has a job I I just want to make that point it is Difficult to say goodbye to valued Colleagues and to those departing we are Incredibly grateful for your countless Contributions Paramount said in August That it would slash 15% of its us Workforce in order to cut $500 million From the budget ahead of a planned Merger with sky dance media expected to Finalize at the end of 2025 it is Unclear where the final 10% of the cuts Will be enacted but they will likely Happen before the end of 2024 in other Words there's another 200 people that Work at Paramount that are going to get Laid off I'm wondering if it has Anything to do with what this article is Mentioning Paramount layoffs hit
Advertising division what's interesting Is is this appears that these layoffs Were not a part of that 15% and staff Were informed last week or informed this Morning so blindsided always blindsided It comes a month after Paramount global Officially initiated long plan layoffs That will see it cut the US based Workforce by 15% let me show you how big This facility is it's actually more like A block of multiple facilities so here's One of the studios right here that I'm Circling you guys can see that right Here now essentially this entire block That I'm circling up into the cemetery Is Paramount Studios this is huge let me Zoom in so the whole screen is Paramount So this everything you're seeing right There is basically Paramount so this is Going to have a huge impact this is also Paramount and I want you guys to think About this okay this whole facility Think about how much money they're Paying in property tax that property tax Goes towards what paying teachers if This whole facility just closed down and Say the city of Los Angeles or Hollywood Was collecting say $5 million in Property taxes guess what they can no Longer afford to pay the teachers the Police department what they'll do is They're going to raise property taxes on The landlords and homeowners who will Then pass that on to tenants or who are
Going to try to but this is massive you Guys and let me zoom out and show you First of all this is interesting look at Over here across the street Southern California is so densely populated right Across the street from Paramount look at This are manufactured homes but it's a Residential neighborhood isn't that wild Look at there's two manufactured home Spaces right there that's interesting But when I zoom out I mean this is Surrounded you guys by residential Neighborhood so those are the people That are going to pay for this again the City needs to come up with the money Somehow so all of this is residential Pretty much almost everything you're Seeing South is I mean look at this this Is insane this is all residential now Here looks like commercial right here um To the west and north of the Manufactured home park and so all of These companies and businesses right Here are going to suffer because a lot Of these businesses McDonald's shopping Haircut places like all down here They're going to suffer all of these Places as a result of this huge pillar Of the community being shut down now let Me show you you just to remind you guys What it was like and I remember I'm from California so this hit home look at this So this is boots on the ground and their Actual Studio this is huge so all of
These jobs it took to maintain this and To build this out it's over when I look At this right here I don't know if you Guys have ever seen Back to the Future And I don't even know if this was in Back to the Future but that reminds me Of Back to the Future I miss the good Old Hollywood days and look at this when I kind of go this way this right here Reminds me of Spider-Man okay you see The Subway right there I mean how many Movies have we seen where they're going Down a Subway with green staircasing and Spider-Man shoots across the street I Mean I could be wrong here but that's Pretty sad Mitch and I have been Explaining to you just how big an impact The massive overvaluation and tax fraud Really is and how that impacts anyone From a renter to a small business owner It literally impacts everyone so yes the State is responsible yes the Federal Reserve is responsible the overwhelming Amount of debt is responsible obviously We should be thriving but we're not the FED is doing quantitative tightening Meaning they don't want us to make more Money right now they don't want our Wages to increase so yes it's a federal Reserve's fault but I also want to ask You guys this as the article mentions Streaming services between streaming Services and public mistrust what do you Guys think the biggest impact is on
These layoffs again taking out of the Equation the Federal Reserve taking out Of the equation all of the fraud and Property overvaluation which again that Plant shutting down the city has lost That tax revenue where are they going to Get it they're going to try to get it From the homeowners and small business Owners but regardless what is the bigger Impact between streaming services like YouTube versus public Miss trust I want To say it's like 50/50 it's like the Public's waking up but I know there's a Huge apathy problem that I'll ask you Guys about at the end of this video also A lot of people are on their cell phones So I honestly I really don't know but I Think both of those combined with the Fed it's rocking them comment below I Really want to know how you feel let me Show you guys that the mass media Layoffs are spreading and essentially Every single company in media is Experiencing rounds of mass layoffs and Some of these people on this list are Going to strike your soul this is an Article from deadline.com list of Hollywood and media layoffs so far in 2024 from Paramount to W Brothers Discovery to CNN after the corona 19 Pandemic two strikes in Hollywood Remember that guys and again I'm going To ask you at the end of this do you Think that without the strikes we would
Have this many layoffs but we'll get to That here in a minute two strikes in Hollywood and with the impact of Streaming and the Advent of AI the media Landscape has continued to shift and Consolidate as wner brothers in Discovery CEO David predicted as Recently as 2024 I want to do is Spotlight some of these companies now The first one is A&E Network now these Are channels like Lifetime and the History Channel they had Mass layoffs I Don't know if you guys knew that look at This Merit Street Media which is Essentially Dr Phil so the Dr Phil show Is not pulling in enough money to Support their staff obviously we talked About Paramount Global laying off 15% of Their staff obviously 90% of that 15% Those layoffs finalize and happen today Tuesday the 24th Disney entertainment Which seems to be a monopoly they seem To own pretty much everything nowadays Including Star Wars which really hurts My feelings but they also own National Geographic they have been doing crazy Rounds of layoffs National Geographic Alone had 133% of its staff cut which is A bummer because I personally respect National Geographic a lot and that was a Childhood magazine I used to always read In addition to that Fox Entertainment is Also having staff reductions they are Also doing layoffs cutting as many as 30
Employees in July in addition to that Lifted entertainment I'm not sure who That is wner Brothers Discovery now I Talked a little bit about that this Comes a year after a round of layoffs That led to the departure of a number of Network Executives in his Cable business So another round of layoffs for wner Brothers Discovery in addition to that Entertainment Tonight is also doing Layoffs pretty crazy stuff here guys CNN Reduced its staff by 100 laying off About 2.9% of its Workforce so whether You like fox or CNN or neither of them They're both doing rounds of layoffs as Is Chicken Soup for the Soul which is Bankruptcy Media Matters for America is Also doing Mass layoffs Allan Media Group is doing Mass layoffs Noah media Is doing Mass layoffs household names Like Netflix now Netflix hasn't done a Lot of layoffs it's only saying about 15 That may be a result of them being in The streaming services or maybe they did Most of their layoffs in 2023 either way They are doing layoffs as is Marvel so Like Spider-Man or Wolverine or any of Those Comic Book Heroes they're doing Layoffs as is Fifth Season it also goes On to written media like Time Magazine Doing layoffs of 30 employees as is Los Angeles Times huge huge companies Massive amounts of layoffs it goes on to Sports Illustrated and YouTube as well
YouTube doing layoffs of about 100 People in January as well as Google Doing layoffs of about a thousand Workers and I want you guys to remember A thousand people is a ton of people Especially if it's concentrated just Like the studio closing down in Hollywood that impact that localized Impact is going to be devastating again To anyone anyone that was basically Making money off of all those people Working there in addition to that NBC News is doing layoffs from 50 to 100 as Is Hallmark media Great American Media And Amazon Studios is also doing layoffs So any of those Prime video shows don't Hold your breath because they may not be Coming back next season I want to ask This question and I really want you guys To think about it if it wasn't for the Back-to-back Hollywood writer strikes Would there be as many layoffs as we see That are happening right now in other Words you guys we just can't win I mean Literally the Federal Reserve is Confusing us and pitting us against each Other all the time and they're rewarding People taking advantage of us and Essentially committing fraud and I'm Going to tell you guys another thing This inflation that we see right now is Only creating a bigger wealth Gap in is Robbing us of generational wealth I Think the strikes had a big impact
Streaming services had a big impact Public opinion big impact I definitely Think the biggest impact of all is the Fed and the government because of this The parabolic government debt chart I Mean this is Unexcusable that is unexcusable the Government is literally on a spending Spree like their addicts like their Teenage atcts that just found a credit Card lying in the street that they never Have to pay off I mean look at that Seriously take that chart in right there That's how our government is spending Our money they've ran out of our money To spend they have no more money of ours To spend they're spending our future Money at least you guys that's in my Opinion I got a lot of people that ask Me what can we do about this remember You guys Mitch vexler and I have been Leading the way trying to show you what You can do on a localized level which is Fight that's it fight to do what fight To save your money how protest the value Of your houses when these cities and Municipalities l Lo income like they Just did with Paramount when they lose Income it causes them to go bankrupt Sooner and when they go bankrupt sooner It's going to cause what public Awareness and that public awareness is Going to shift the hands of the elected Officials and hopefully create change
For the good and some of the things that We need is well number one enforcement Transparency and accountability and Again the way to do that is just to Conquer apathy and how do you do that Save your money this system is gambling On us not caring and what I'm showing You with these layoffs guys is this is Just the tip of the iceberg and what we See in mainstream media is not giving us The truth what's the truth right now we Are under attack and we are under attack By a Federal Reserve if you don't even Own a house help your landlord but one Thing we should all do whether we own a House or not we should all re-budget and We should all do as best as we can to Get ourselves out of the system and stop Our Reckless spending habits happy Tuesday don't forget check out the links Below multiple free free empowerment Courses please please take those courses Especially if you're a real estate Professional take those courses and Start training and teaching people and Other than that if you guys are out There investing in real estate or if you Are just living your life you guys I Wish you luck and I hope you win
