Paramount TV Layoffs Affect CBS, MTV, BET Executives
A significant restructuring has taken place at Paramount, impacting numerous executives across its television and motion picture divisions. This move follows the $8.4 billion merger between Paramount Global and Skydance, which officially took effect in August.
Details of the Layoffs at Paramount
Paramount Global currently employs about 18,600 individuals worldwide, a figure that dwarfs Skydance’s workforce of 1,300. The majority of the layoffs are impacting the Paramount side of the company.
- Notable layoffs include:
- Teri Fleming, EVP and head of marketing for Paramount Global Content Distribution
- Pamela Soper, SVP of Current Programming at CBS Entertainment
- Amanda Palley, also SVP of Current Programming, CBS Entertainment
- Rose Catherine Pinkney, SVP of Scripted Programming and Development at BET
- Wendy Plaut, SVP and Head of Music & Celebrity Talent at MTV
- Jeff Grossman, EVP of Programming at Paramount+
- Patricia Kollappallil, SVP of Corporate Communications
Reasons Behind the Restructuring
This round of layoffs is part of a comprehensive effort to streamline the organization. Paramount aims to address redundancies and eliminate roles that do not align with evolving priorities. CEO David Ellison emphasized that these difficult decisions are essential for positioning the company for long-term success.
Previous Layoffs and Future Plans
In recent months, Paramount has faced multiple rounds of layoffs. The most recent prior to this was in June, which saw a 2.5% reduction in workforce. The firm also reduced its U.S. staff by 15% in a previous round of cuts in August 2024, including a shutdown of Paramount Television Studios.
- Upcoming changes include:
- About 1,000 positions will be eliminated immediately, with an additional 1,000 expected to follow.
- International divisions are also preparing for cuts.
Financial Implications
Following the merger, Paramount committed to delivering $2 billion in cost savings, largely through workforce reductions. Recently, substantial expenditures on content rights, including $1.5 billion for South Park and a $7.7 billion deal for UFC rights, illustrate the financial pressures influencing these layoffs.
Ultimately, the leadership at Paramount acknowledges the emotional impact of these changes. In an internal memo, George Cheeks, Paramount’s TV Media chair, recognized the contributions of departing employees and the company’s commitment to supporting them during this transition.
