"The Environment Has Gotten Worse": TV Film Industry Sputters As Cost Cutting And Layoffs Take Hold "The Environment Has Gotten Worse": TV Film Industry Sputters As Cost Cutting And Layoffs Take Hold First it was the streaming studio shift that shook up Hollywood - companies like Netflix were beating out movie theaters and traditional studios publishing content that went direct to streaming. Now, Hollywood is getting shaken up again - this time, because layoffs are on their way. The struggling TV and film industry continues to run face first into bad news. This week it was reported that Warner Bros. Discovery was firing 100 TV ad salespeople at the same time that Paramount has considered ending offering Showtime as a standalone service, Bloomberg reported . Netflix followed suit with their own layoffs, the report says. The company has reportedly let go hundreds of employees and abandoned some of its office space. At the same time, the firm''s stock price has collapsed and fallen more than 60% from its all time highs. Walt Disney Co. Chief Executive Officer Bob Chapek said in a recent interview with Bloomberg: “The very foundation that the streaming business sits on has been devolving on sand.