Paramount Global layoffs, on the record
Every job cut, severance charge and restructuring Paramount Global reported in its annual reports, 2022 to 2024, quoted from the filings. Headcount went from approximately 24,500 to approximately 18,600.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2022 | approximately 24,500 | As of December 31, 2022 |
| 10-K for 2023 | approximately 21,900 | As of December 31, 2023 |
| 10-K for 2024 | approximately 18,600 | December 31, 2024 |
Job cuts, severance and restructuring
Our summaryThe company reported charges for restructuring and other corporate matters, including severance costs and impairment of lease assets.
Word for word“(a) Comprised of charges of $328 million for restructuring, as described under Restructuring and Other Corporate Matters , consisting of severance costs and the impairment of lease assets; $211 million associated with litigation described under Legal Matters — Stockholder Matters ; and $46 million recorded following Russia’s invasion of Ukraine in the first quarter of 2022, principally to reserve against amounts due from counterparties in Russia, Belarus and Ukraine.” 10-K for 2022
Our summaryThe company recorded restructuring and other corporate matters charges in its adjusted OIBDA reconciliation, which the filing says were higher in 2022.
Word for word“Operating income for 2022 decreased 63% to $2.34 billion. This comparison was impacted by higher charges in 2022 for restructuring and other corporate matters, as well as lower gains on dispositions.” 10-K for 2022
Our summaryThe company recorded restructuring charges in 2021 consisting of severance costs and lease asset impairment.
Word for word“(a) Reflects severance costs and the impairment of lease assets.” 10-K for 2022
Our summaryThe filing reports restructuring charges of $102 million in 2023 and $328 million in 2022 within its adjusted OIBDA reconciliation.
Word for word“Restructuring charges (a) 102 328 Other corporate matters (a) (133) 257 Gains on dispositions (a) — (56) Adjusted OIBDA (Non-GAAP) $ 2,390 $ 3,276 (a) See notes on the following tables for additional information on items affecting comparability.” 10-K for 2023
| Fiscal year ended | Severance costs | Restructuring charges | Cash paid for restructuring |
|---|---|---|---|
| 2016-12-31 | — | $30 million | $22 million |
| 2017-12-31 | — | $258 million | $27 million |
| 2018-12-31 | — | $309 million | $219 million |
| 2019-12-31 | — | $418 million | $230 million |
| 2020-12-31 | $472 million | $542 million | $398 million |
| 2021-12-31 | $65 million | $100 million | $227 million |
| 2022-12-31 | $260 million | $328 million | $134 million |
| 2023-12-31 | — | $102 million | $172 million |
| 2024-12-31 | — | $554 million | $331 million |
Paramount Global has filed no restructuring notice (Form 8-K, Item 2.05) since 2016. Companies file one only for a cut they judge material, so many announced layoffs never appear as one. This page shows what the company reported to the SEC, not news reports or state layoff notices.
Read from Paramount Global’s annual reports (10-K for 2024, 10-K for 2023, 10-K for 2022) and the financial data it files with the SEC, as of 2025-02-26. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.