Paramount Slashing 3.5% of Staff in 2025, Canadians Could be Affected - Samfiru Tumarkin LLP
What’s Happening at Paramount?
Entertainment giant Paramount Global (Paramount) is planning to eliminate approximately 3.5% of its workforce amid a decline in cable TV subscribers.
“We recognize how difficult this is and are very thankful for everyone’s hard work and contributions,” the company’s 3 CEOs said in a memo to staff on June 10.
“These changes are necessary to address the environment we are operating in and best position Paramount for success.”
The bombshell update comes shortly after streaming rival Disney announced that it was trimming several teams.
Impact on Canadian Staff
Paramount noted in its memo that it could trim its non-US workforce over time — potentially affecting Canadian employees.
According to LinkedIn, the company has more than 100 workers in the country.
Next Steps for Paramount Employees
If you’re fired or let go from Paramount, understanding your legal rights is crucial.
Non-unionized employees in Canada are entitled to severance pay. This includes individuals working full-time, part-time, or hourly in Ontario, Alberta, and British Columbia (BC).
The amount you’re owed is based on a variety of factors, including your role, tenure, age, and ability to find similar work.
WATCH: Everything Non-Unionized Employees Need to Know About Severance Pay
Key Severance Facts:
- Compensation: Severance packages, which can be as much as 24 months’ pay, may include salary, bonuses,...
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