Paramount begins shedding 15 percent of workforce

Paramount Global begins planned layoffs with 15% job cuts in US

(Reuters) – Paramount Global will begin laying off 15% of its workforce in the United States starting Tuesday as part of its planned job cuts, the media giant said in an internal memo. Paramount, which owns networks like CBS, MTV and Comedy Central, aims to reduce annual costs by $500 million and return to profitable growth ahead of its merger with David Ellison’s Skydance Media. In an internal memo, Paramount’s co-CEOs stated that the compa…

Paramount TV Studios To Shut Down Completely

Paramount TV Studios is shutting down amid major layoffs and restructuring plans.

Paramount is shutting down its TV studio as part of a new wave of layoffs

Image: Paramount Ahead of its upcoming merger with Skydance Media, Paramount is winding down its TV production studio as part of a larger restructuring effort that will put 15 percent of its current workforce out of jobs. In a memo sent to employees today and obtained by The Hollywood Reporter, Paramount TV head Nicole Clemens and Paramount co-CEO George Cheeks announced that Paramount Global is shuttering the studio. Clemens, who joined Paramo…

The decision is part of a series of restructuring measures by Paramount Global to cut costs.

Paramount Cuts 15% Of US Workforce, Closes TV Studio, As Traditional TV Market Slumps

Paramount Cuts 15% Of US Workforce, Closes TV Studio, As Traditional TV Market Slumps Paramount, the parent company of CBS News, BET, MTV, Nickelodeon, dozens of local TV stations, and Paramount Pictures, announced in an internal memo from top executives to employees that the first round of job cuts is set to begin.  The multinational media conglomerate in Manhattan plans to reduce its US-based workforce by 15%, or about 2,000 workers, by the en…

Paramount Starts Cutting 15 Percent of US Workforce

Paramount Global is pressing ahead with its much-anticipated workforce reduction plan, with a company spokesperson confirming to The Epoch Times that the company has started laying off its U.S. staff. The cuts will take place in three phases starting on Aug. 13 and running through the end of the year, with the spokesperson saying that when the reductions are completed, 15 percent of Paramount’s U.S.-based workers will lose their jobs. Three memb…