belt-tightening

But he may also have surrendered any prospect of the kind of belt-tightening debt reduction that the money markets and the European Union are demanding.

The belt-tightening at Hollywood studios, coupled with the lingering effects of the pandemic and dual writers’ and actors’ strikes in 2023 have constrained production spending, making it tougher for filmmakers to find buyers for their projects.

The region’s slowdown has been brutal: the twin strikes of 2023, studio belt-tightening, productions lured out of state and wildfires that shuttered work this year.

Leaders signaled that more belt-tightening was on the way, saying they would speed up plans to consolidate IT teams and streamline other administrative functions to funnel limited funds to teaching and research.

Skydance and RedBird have promised investors that it will find $2 billion in cost savings, which means further belt-tightening and layoffs.