https://deadline.com/2025/08/paramount-job-cuts-2-1236495593/
17 replies (most recent on top)
@p3 he remains the cto reporting to David for the time being.
I wish they would offer employees who are no longer interested in staying on a buyout - similar to the 3 months people get when they don't adhere to WARN. or heck even 6 weeks or so. Waiting until Nov is brutal
@k4 ugh, does this mean PW is being kept in the new organization....
It will be consolidations of functions. You know there are multiple CMOs, CFOs and media supply chains. Anything tech is going under pw and all those biz functions are going under one of the $50m dream team they brought in.
The previous poster mention cuts are also from new contracts shutting down channels etc. That makes more sense. You can't cut 2B on salaries alone unless there are average joes making an incredible amount of money. Still not a bad idea to update the old resume.
that doesn't sound like as much as I thought
If there aren't huge layoffs in the legacy cable business, marketing and ad sales teams, I would be shocked.
Any thoughts if it will be two weeks for every year of service?
@ck is that your guess or known info?
CBS News is losing $50 million per year
Any leaks about whole depts being cut as they have in the past? Or speculation about known redundancies? Comms/Press? BALA? Corp Creative? Finance? Events? HR?
@ar the $2b is not just from salaries. It’s also from new supplier contracts (oracle), real estate saving, shutting channels etc.
@aj get your severance package!
2 billion in cost savings with help of 3k people layoff - sound interesting - next to next round inline?
we just did liken 15% layoff in June under GC- and a reorg to cover that work
now it's again four months later ...
So I have two months to find a new job…
I do not get paid enough for my job cut to make a big dent in the savings…