Paramount Global Lays Off 800 Employees Despite Record Super Bowl Ratings – One America News Network

NEW YORK, NEW YORK - AUGUST 08: The Paramount Global headquarters is seen in Times Square on August 08, 2023 in New York City. Simon & Schuster was acquired by investment firm KKR for $1.62 billion dollars after the publishing company's parent company, Paramount Global agreed to its sale. The deal turns the publishing company into a standalone private company and will keep Jonathan Karp as its president & CEO. Last year, an acquisition of Simon & Schuster by Penguin Random House for $2.2 billion was blocked by the Department of Justice. (Photo by Michael M. Santiago/Getty Images)
The Paramount Global headquarters is seen in Times Square on August 08, 2023 in New York City. (Photo by Michael M. Santiago/Getty Images)

OAN’s James Meyers
4:10 PM – Tuesday, February 13, 2024

Paramount Global, the parent company of CBS, laid off 800 people on Tuesday just two days after setting a viewership record for the Super Bowl. 


On Tuesday, CEO Bob Bakish announced the layoffs and unveiled the company’s plan to conduct additional cuts abroad. Those will occur over time. 

“Unfortunately, part of streamlining costs means that today, we will begin the difficult process of saying goodbye to some of our very valued colleagues across Paramount,” Bakish wrote in a memo obtained by The Hollywood Reporter. “We will be notifying impacted employees who are based in the U.S. by the close of business today.”

The latest cuts affected 3% of the workforce, according to The Guardian, noting staff were notified about the decision the same day. 

“To those with whom we are parting ways, we are incredibly grateful for your hard work and dedication,” Bob Bakish, Paramount’s top executive wrote in an internal memo obtained by the outlet. “Your talents have helped us advance our mission of unleashing the power of content around the world. We are a better company because of you.”

“There will also be impacts in some of our offices based outside the U.S.,” with staff to be notified “over time,” the CEO added.

The massive layoffs caused criticism of Bakish, who pulled in $32 million total in compensation last year despite the company declining financially. 

“Everybody in the newsroom is pissed that Bob Bakish is making over $30 million and he’s making these cuts,” one insider fumed.

The most notable layoff was CBS reporter Catherine Herridge. Herridge was fired hours after she reported on how President Biden may have “retained sensitive documents related to specific countries involving his family’s foreign business dealings.”

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Sophia Flores
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