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Hollywood cuts 17,000 jobs in August amid ongoing strikes

By Nithya Bose in US business news, posted September 4, 2023

Hollywood has slashed 17,000 jobs in August as twin strikes by actors and writers continue.

The job losses affect the entertainment industry, including film, TV, and music, the US Bureau of Labor Statistics said.

Meanwhile, the broader US economy added 187,000 jobs during the same period, surpassing the 170,000-job forecast.

The strikes by the Writers Guild of America and SAG-AFTRA began in May and mid-July, respectively.

It disrupted film and show production, causing economic repercussions beyond the entertainment sector, including hospitality and real estate impacts.

These strikes stem from negotiations between writers, actors, and legacy studios like Netflix, Disney, and Amazon.

They seek improved compensation due to changing industry dynamics driven by streaming and AI threats.

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Despite weeks of impasse, the Writers Guild of America recently received a new proposal from the Alliance of Motion Picture and Television Producers.

It signals a potential resumption of talks.

The ongoing strikes have already cost California's economy an estimated $3 billion.

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