Paramount Global's Layoffs: Lights, Camera, Job Cuts!

Lights Camera Job Cuts!

In a move that rivals the drama of a season finale Paramount Global has announced the layoff of hundreds of employees. Just one day after celebrating record Super Bowl viewership the company is making some tough cuts.

The Cutting Room Floor

Paramount Global plans to let go of approximately 800 workers accounting for around 3% of its workforce. Yikes! I guess their strategic vision for the year ahead doesn't include keeping everyone on board. Better update those resumes folks!

Don't Fire Me Bro!

Paramount Global's CEO Bob Bakish sent out an internal memo assuring employees that these adjustments are necessary for the company to move forward. He's spinning it like a true lawyer claiming these job cuts will help them build on their momentum. I bet those who lost their jobs aren't feeling too excited about that.

Mega Media Moves

Meanwhile behind the scenes Paramount Global has been exploring merger and acquisition options. They've been caught in a web of talks with Skydance Media and Warner Bros. Discovery. Looks like they're trying to create their own crossover event. Will it be a blockbuster or a big flop? Only time will tell.

Streaming Woes

It seems like Paramount Global's streaming service Paramount+ is in need of some serious rescuing. The platform continues to bleed money each quarter with losses reaching a whopping $238 million in the third quarter alone. Yikes they should have called me for some legal advice on cutting those losses!

Super Bowl Success

Let's not forget the shining moment for CBS the Super Bowl! Super Bowl 58 became the most watched television show in history captivating an estimated 123.4 million viewers. CBS cashed in on the game charging a record high average of $6.5 million for a 30 second advertisement. Talk about a commercial break that broke the bank!