Paramount begins laying off 15% of U.S. staff

Co-CEOs tell staffers media company has reached 'an inflection point' as 'industry continues to evolve'

Posted Tuesday, August 13, 2024 11:33 am

Dade Hayes | DEADLINE

Paramount Global has officially initiated long-planned layoffs as it looks to reduce its U.S.-based workforce by 15%.

The first of three stages of staff reductions is beginning today, with 90% of the total cuts to be completed by the end of September. George Cheeks, Chris McCarthy and Brian Robbins, the three members of the Office of the CEO, laid out details this morning in a memo to employees.

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Paramount begins laying off 15% of U.S. staff

Co-CEOs tell staffers media company has reached 'an inflection point' as 'industry continues to evolve'

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