In May 2023, Paramount stated that it would lay off 25% of its cable TV network workers.
This includes staff from Nick, MTV, Comedy Central, Paramount Network, CMT, Smithsonian, TV Land, Logo, and Pop TV. Paramount recently stated that MTV News would be closing as well.
Paramount has now gone even farther, erasing all information from both the MTV News and CMT websites. Variety reported that the erased content included thousands of stories and interviews with MTV News dating back to 1996.
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In a note to staff when MTV News was shut down, Paramount Media Networks President Chris McCarthy wrote: “However, despite this success in streaming, we continue to experience pressure from larger economic headwinds, as do many of our peers. To address this, our top management, in collaboration with HR, have been working for several months to find the best organization for our company’s current and future needs.
“As a result, we have made the very hard but necessary decision to reduce our domestic team by approximately 25%,” Mr. McCarthy stated. “This is a difficult but crucial strategic realignment for our organization. By eliminating some units and streamlining others, we will be able to decrease costs and build a more successful approach to our business in the future. Today, we will contact employees whose jobs are being affected, with leaders relaying the news directly to those teams/individuals. These meetings will be followed by one-on-one sessions with our HR partners.
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Last year, Paramount also combined its television networks into a single team. Nick, MTV, Comedy Central, Paramount Network, CMT, Smithsonian, TV Land, Logo, and Pop TV will now function as one entity. The majority of these cuts will result from the unification of all these networks under a single team, decreasing manpower requirements.
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