Paramount Global laying off 800 employees

Paramount Global laying off 800 employees

Paramount Global is laying off about 800 employees worldwide.

Variety reports Paramount CEO Bob Bakish announced the layoffs on Tuesday in a memo. According to the memo, employees in the U.S. being laid off will be informed this week. International employees will be notified “over time in line with our local legal obligations in each of the countries where we operate.”

While Variety reports Bakish’s memo did not specify how many employees of the company are being let go, sources confirmed to the publication that about 800 people are getting cut across all divisions of the company, including at CBS, Paramount Pictures, Paramount+, Pluto TV, Showtime and cable networks including Comedy Central, Nickelodeon and MTV.

In the memo, Bakish touted the company’s “blockbuster” Super Bowl LVIII this Sunday — the most-watched telecast in history — which “showcased the full power of Paramount,” reports Variety.