CEO and execs said on the earnings call that Paramount is eyeing meaningful and sizable cost cuts involving both labor and non-labor expenses by end of this quarter. Will we see another December 2008 replay before the holidays? Predictions to departments and locations?
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It's started: https://deadline.com/2022/11/paramount-global-layoffs-1235173742
I’ve not heard of any cuts so far today, have any teams been impacted?
Ad sales is going to streamline. Part timers will get no severance.
Which groups have you heard being hit tomorrow?
Wednesday (tomorrow) seems to be the day for some groups.
CBS stinks and everybody that still works there stinks
It used to be something like 2 weeks for every year worked, capped at 6 months.
Can anyone give insight on the severance package? Is it negotiable?
there is no saving this industry
This guy gets it
looks like we were right! just announced that 'impact to the employee community' at the BobL*ve. I'd rather it be quick and dirty but reality is they will probably 'synergize' the cuts over the next 18 months..
cuts will continue for the new few years until the company finally liquidates. don’t wait to be laid off, start looking for a new career now because there is no saving this industry
Wonder if layoffs will be address at the BobL*ve this coming thursday...
Ad sales and recruiting likely to be impacted.. anyone know about scripted or news divisions?
Layoffs right before Thanksgiving are typical. My guess is any day now. Warn notices aren’t posted public until after the layoffs occur.
It sounds like 11/16 would be too early but then again layoffs have occurred in November, like in 2020. Historically, usually a Tuesday/Wednesday. No WARN notice posted for NY offices yet with location or headcounts, uncertain if other states do similiar.
Is 11/16 the big day?
Ad sales for sure, performance has been weak and they just restructured.