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Paramount Global Layoffs Begin; CEO Bob Bakish Tells 800 Departing Employees, “Your Talents Have Helped Us Advance Our Mission”

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Paramount Global has begun a planned round of layoffs, telling U.S.-based employees that those affected by the cutbacks will be notified by the end of Tuesday.

An internal memo from CEO Bob Bakish (read it below) did not disclose numbers. A person familiar with the cutbacks estimated the total number at 800, which is consistent with a Deadline report last month.

Bakish had confirmed the planned cutbacks at a “Bob Live” town hall event in January. The scope and details of the staff reductions will come into focus over the course of the day.

As of December 31, 2022, Paramount had 24,500 full- and part-time employees in 37 countries worldwide, with about 5,800 project-based staff on its payroll.

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