Paramount to Lay Off 800 Staffers as CEO Unveils Broad “Streamlining Costs” Effort

February 13, 2024

Paramount Global CEO Bob Bakish recently asked his staff to prioritize “managing costs” and earnings growth amid expectations of looming layoffs and deal chatter surrounding the entertainment giant. The company had about 24,500 employees, as of its last 10-K disclosure, which reflects staff count in Dec. 2022. Team,As we shared at Bob Live in January, returning our company to earnings growth is a top priority in 2024. And 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. We will be notifying impacted employees who are based in the U.S. by the close of business today.