Cuts Coming to Paramount Pictures
Paramount Pictures will be downsized. According to The Hollywood Reporter, a total of several dozen employees will be laid off as part of the restructuring announced by Viacom, which previously owned Paramount. Speaking to investors at the conference, the head of the company Philippe Doman said that all changes will be completed within a month, and this will save Viacom about $ 250 million. Which divisions of Paramount Pictures will be cut, and the exact number of those laid off has not yet been announced. Representatives of Viacom have also denied recent rumors about the possible sale of Paramount Pictures studio or part of its shares to Chinese companies. According to Doman, "people not familiar with the situation misinterpreted some of our business meetings." Recall that Paramount Pictures is not the only major Hollywood studio that was forced to resort to staff cuts. In late 2014, Warner Bros. Entertainment has announced the layoff of over 1,000 of its employees worldwide. Significant cost reductions were also announced for movieing feature movies and television series. Note that the most successful project of Paramount studio in 2014 was the movie "Transformers 4: Age of Extinction", which earned more than one billion dollars. The Topic of Article: Cuts Coming to Paramount Pictures. |
