I guess the Taylor Swift Bowl wasn't enough to rescue CBS parent-company Paramount from being the next in a long line of major entertainment corporations to make severe cuts.
Just a day after bragging on their record-breaking Super Bowl audience, Paramount Global is laying off 800 of their employees.
Paramount Global is laying off hundreds of employees, just one day after the company announced CBS had record Super Bowl viewership, Chief Executive Officer Bob Bakish said Tuesday in an internal memo to employees.
Sources are saying 800 employees, 3% of the company, will be informed of their layoffs beginning today.
'These adjustments will help enable us to build on our momentum and execute our strategic vision for the year ahead — and I firmly believe we have much to be excited about,' Bakish wrote in the note.
Well, if Elon Musk showed us anything with Twitter it's that most of these companies could fire up to 80% of their employees and run even more efficiently.
I'd start with any employee with DEI in their title if I was Bob.
Joking aside, it sucks to lose your job.
And all of this comes for Paramount on the heels of what is likely the biggest money-making Super Bowl of all time.
Super Bowl 58 on CBS was the most-watched television show in history, with an estimated 123.4 million people having watched across all platforms.
CBS charged a record high average $6.5 million for every 30-second advertisement for the Super Bowl, according to the research company Guideline.
The network earned tens of millions in additional revenue because the game between the Kansas City Chiefs and the San Francisco 49ers went into overtime.
Guess their funny ad wasn't enough to ward off Bidenomics.
Things are tight out there. I wonder which company will be next.
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