Paramount Global, the parent company of the CBS network, has laid off 800 employees, Deadline reported Tuesday, a day after CBS announced record Super Bowl viewership.
Wow. Imagine watching your boss open champagne and pat each other on the back, only to be fired the next day.
“To those who have decided to part ways, we sincerely thank you for your hard work and dedication,” CEO Bob Bakish wrote in a memo. obtained By the deadline. “Your talents have helped advance our mission to unleash the power of content around the world.”
The memo comes just one day after CBS announced a record-breaking population of 123 million people. saw It hosted Super Bowl LVIII on its platform, making it the most-watched program in television history.
CBS has finally released its Super Bowl ratings. It was the most-watched telecast in television history, with an average audience of 123.4 million viewers, an increase of 7% from 2023. More than 200 million people watched it in whole or in part across all networks. He was watched by 120 million people on CBS alone, which is also a record. It's the Taylor effect. pic.twitter.com/5NnQvJY88p
— NPR's Eric Deggans (@Deggans) February 13, 2024
Despite these layoffs, Planned It seems like a plutocratic move weeks in advance to lay off hundreds of people the day after announcing they've created the most popular show in television history. (Related article: China wins Super Bowl after CBS fails to remove TEM ad despite pleas from lawmakers and officials)
Bakish said the layoffs were aimed at improving profitability.
“As we shared on BobLive in January, returning our company to revenue growth is our top priority in 2024,” he said in the memo. “To do that, we must continue to grow revenue while reducing costs. And unfortunately, as part of our cost rationalization efforts, today we begin the difficult process of saying goodbye to valued colleagues across Paramount. I will do it.”
NEW YORK, NY – AUGUST 8: Paramount CEO Bob Bakish and actor Owen Wilson attend the Paramount+ “Secret Headquarters” Premiere held at Signature Theater in New York City on August 8, 2022. . Brian Bedder/Getty Images, Paramount+
CBS sold advertising report 7 million dollars a pop. Assuming that the average salary of his 800 laid-off employees was $100,000 (and I'm sure many employees made much less than that), this That's the equivalent of about 11 and a half Super Bowl ads for an employee who was just laid off.
Now, I'm not anti-business or unrealistic about what it takes to run a profitable media conglomerate in America. Paramount is not a charity. If something doesn't work, cut the bait and try again. I'm cool with all of that.
However, the insensitive nature of firing an employee the day after announcing perhaps the best news in company history makes me uncomfortable.
