Paramount becomes the latest studio to restructure

Paramount is the latest US media group to start laying off staff. After a steady stream of restructuring news from Warner Bros Discovery, Walt Disney and AMC Networks, Paramount has started shedding employees in business affairs, legal, casting and production. Flagship TV Studios CBS Studios and Paramount TV Studios will both see cuts and the Paramount+ scripted originals team has been folded into the latter. As yet there is no news on whether the volume of Paramount+ orders will be affected.

In a memo to staff, CBS president and CEO George Cheeks stressed that CBS Studios and Paramount TV Studios would continue as separate entities under David Stapf and Nicole Clemens, each with their own dedicated creative teams. “This will maintain two dynamic entry points for creative talent. It provides us the desired balance of having dedicated brands and divisional/creative leadership bolstered by streamlined support operations. The bottom line – we have two prestigious, major studios that are laser focused on being global, multi-platform and collaborative.”

Unfortunately, he added, “this organisational change also comes with the departures of valued colleagues. Going forward, our next step is to put this new structure into action while clearly communicating the vision for our two studios system.”

Cheeks said each studio is free to pursue content of all genres for all mediums. “There are no exclusive lanes”. Looking outside the US, he added: “With the international free-to-air networks now part of my purview, both studios will be collaborating more with Maria Kyriacou (UK and Australia) and Dario Turovelzky (LatAm) to see how we can support the company’s increased focus on globalisation of content.”