Paramount Pictures will lay off 110 employees across 6 departments this year. These Paramount layoffs will affect almost 5% of its total 2200 work force.
Paramount layoff season come again this year. And the studio is going to lay off almost similar number of employees this year as it did last year. 110 employees out of total 2200 studio workers will be eliminated from their positions. It means the layoff size will be almost 5% of total studio strength.
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These layoffs come as a result of Paramount Pictures film studio acquisition by Viacom Inc. Paramount Pictures Chief Operating Officer Frederick Huntsberry send a layoff announcement memo to studio employees.
Reuters got this memo which states, "As our industry continues to adapt to an increasingly competitive environment, we are always ensuring that Paramount is conducting its business as efficiently and productively as possible. As such we are making important and necessary changes in how we operate across several business functions."
Paramount layoffs are done primarily in 6 departments of human resources, IT, finance, marketing, international home media distribution and legal. But a Paramount spokeswoman declined to comment on this layoff news.