In 2022 Los Angeles County had 145,000 workers in the motion picture industry, according to the Bureau of Labor Statistics. In 2024, the most recent year for which data is available, it was 104,000. One reason is decades of consolidation—deals like this one, most of them involving layoffs. When Paramount merged with Skydance last year, it laid off about 15% of its workforce, about 2,600 employees.
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Without bigger government incentives, oil firms will be reluctant to take what could be an expensive plunge. Small wonder, then, that ExxonMobil boss Darren Woods has called Venezuela "uninvestable" in its current state.