Photo: PATRICK T. FALLON / AFP / Getty Images
Not even big movie studios are immune to layoffs.
Paramount Global has begun staff layoffs, aiming to reduce workforce by 15%.
Tuesday marked the first of three planned layoffs, which is expected to be complete by the end of the September.
“The industry continues to evolve, and Paramount is at an inflection point where changes must be made to strengthen our business,” co-CEOs George Cheeks, Chris McCarthy and Brian Robbins wrote in a memo to employees.
We know that having to part ways with teammates whose contributions have been instrumental to our success is incredibly hard,” they continued. “In partnership with our HR leaders, we are committed to providing support to employees transitioning on from Paramount and to our teams who will need to adapt to these changes.”
How do you think these layoffs will affect the film industry? Why do you think the film industry is experiencing layoffs?
“We know that having to part ways with teammates whose contributions have been instrumental to our success is incredibly hard,” they added. “In partnership with our HR leaders, we are committed to providing support to employees transitioning on from Paramount and to our teams who will need to adapt to these changes.”
Click Here To Listen Live https://www.iheart.com/live/news-radio-wtam-1100-17