A statement from the company said, justifying the change: “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”. The jobs will disappear from the areas of finance, information technology, human resources, legal and marketing and international media distributions.
Recently, the VIACOM (owner of Paramount) CEO Philippe Dauman revealed that the studio needs to lower the cost of movie and TV production. Tuesday morning, a memo was sent to all employees to justify the jobs cut. The text also expressed a hope for a better future:”We have an extraordinary team at Paramount, a strong slate of upcoming films and exciting plans for re-entry into television production.”
Even though studio’s second quarter revenues were 29 percent down, Paramount has had success with the last movies, including “World War Z” with Brad Pitt.
