Paramount reduces 3.5% of the American workforce in the midst of trade streaming priorities
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Paramount Global reduces its 3.5% American workforce in a decision to reduce costs.
The company’s plans to reduce jobs were announced on Tuesday by its three CEOs in a score on the scale of the Fox Business.
The CO-PDG George Cheeks, Chris McCarthy and Brian Robbins said in the message that Paramount “took the difficult but necessary measures to rationalize our organization this week more”.
An image of a woman holding a mobile phone in front of the paramount logo displayed on a computer screen on April 29, 2024 in Edmonton, Canada (Artur Widak / Nurphoto via Getty Images / Getty Images)
The effort to rationalize the organization of Paramount will result in 3.5% of the US employees of the company who lose their job, said the memo.
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This occurs while the media company sails in the “continuous linear decline in industry and the dynamic macro-economic environment, while prioritizing investments in our growing streaming activity”, according to CO-PDGs.
| Teleprinter | Security | Last | Change | Change % |
|---|---|---|---|---|
| HAS | Overall | 12.17 | +0.17 |
+ 1.42% |
Many paramount workers who are released were to receive a notification on Tuesday.
Globally, around 18,600 people worked full -time or full -time full time or part -time at the end of 2024.
Under this decision, some primordial workers based in other countries may also be assigned “over time,” said the note.
The Paramount logo is displayed in Columbia Square along Sunset Blvd in Hollywood, California, March 9, 2023. (Patrick T. Fallon / AFP via Getty Images / Getty Images)
Paramount is “determined to ensure that all affected employees are supported by care and respect during this period,” said McCarthy and Robbins.
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The company, which agreed with a merger proposal with Skydance Media last year which has not yet closed its doors, had a market capitalization of $ 8.6 billion on Tuesday afternoon.
Its portfolio includes Paramount +, Comedy Central, MTV, Nickelodeon, CBS and Paramount Pictures, among others.
The Paramount Plus logo is displayed on a smartphone screen. (Rafael Henrique / Sopa Images / Lightrocket via Getty Images / Getty Images)
Paramount previously reduced approximately 15% of his American workforce last year.
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These layoffs, announced in August, “mainly” focused on “redundant functions in marketing and communications” and “rationalize” its business structure, reducing our cash, legal, technology and other support case, “said McCarthy at the time.
