Does anyone know percentage-wise how much P+ will be impacted either as an org or by division next Tuesday? Different numbers floating around from 50% to a whopping 70%.
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Has anyone heard about marketing from P+ I don't do anything Pluto related
I've heard we that survive may be merged with other teams
My team seems to know nothing even people who are close to their bosses Anyone heard anything ??
From what I understand: 90% of the entire layoffs are happening on the 24th. I haven't done the math to determine what the percentage is for Streaming/Tech based on that
What's the difference between "Streaming" and "Tech"?
I would like you to post if you hear any news or updates.
it up to folks to judge or stay off the site if it's too stressful and I respect that
Acc to the Warn Reports 749 were laid off and that included remotes that report to NY and CA in August
Plus ad sales yesterday
that leaves 1000 ish for Tuesday for Streaming and Tech .
Plus is going to be hit way harder than Pluto - yes some jobs are streaming for both
It does not include contractors and freelance ending Sept 30
they were not part of the target 15% US Staff that were dictated in June
This is FTE with benefits that are being cut: my direct report said contractors terms being ended saved no FTE- was taken off the top first in our division
Many posts have opined the last 10 percent will be CBS and stations after the election
"Stop speaking without providing your sources to cause panic amongst people unnecessarily. 70-75% is a really steep number across streaming, not sure how any work will get done with that kind of a cut. What exactly are you meaning by smaller teams, 5, 10, 40 people?"
Denial much? Most if not all of the info here has been spot on, so I trust the sources that are leaking them, and actually thank them for their service. True leaders at this point would be encouraging team members to prepare for the worse rather than telling things will be OK and coming up with silly diversions to distract from unpleasant feelings almost everyone is going through right now. I feel bad for whoever believes that all will be OK. If anything I'd be giving employees space to prepare resume, job search and do training so that are in better shape to find something quicker if/when they get laid off.
60% laid off at Nickelodeon. That’s between 50 and 70%…
@byg+1uzPmmGy Why would I compromise sources? If you don't want to believe what I said, don't. It was all based on info I have received over the last couple of months.
But two things. Some entire teams were let go in the August round. I don't know how good you are at math, but 100% is worse than 70%. Secondly, your comment of "not sure how any work will get done with that kind of a cut" is the point - the work has to stop! Think it thru - Do the Pep Boys really believe in streaming? No! They (CMC mostly) would like to see it fail so they can talk more about outsourcing or looking for a tech partner. Also, has Skydance ever said they want a tech team?
Anyway, I won't post any more on here. I wish you all the best next week.
@fkg+1uzPmmGy Stop speaking without providing your sources to cause panic amongst people unnecessarily. 70-75% is a really steep number across streaming, not sure how any work will get done with that kind of a cut. What exactly are you meaning by smaller teams, 5, 10, 40 people?
@OP+1uzPmmGy Not just P+, 50-70% is correct, but for the whole of US based steaming employees. Each division being hit differently. However, yes, it’s accurate to say the minimum will be 50% staff across the board and some smaller teams will be hit closer to 70-75%.
As others have said on this site, next Tuesday will be a bloodbath.
Nobody knows.
What is known is they will layoff 15% of US Staff (2000 employees) by end of year and most by Oct 1.
Outside of that it’s all conjecture.
The chances they get all 2,000 of those firings from P+ team-only are exceedingly thin. In fact based on the layoffs to the Paramount production units, HR, Lawyers, and ad sales groups thus far, it’s statistically impossible. There could be massive reorganization. There might not be.
The best you can do is treat it like you don’t have a job already and work every contact you have, apply to everything you see, etc.
If you are not asked to leave, my advice is still act like you don’t have a job at Paramount.
The company has continued to shed people by the thousands for the last 5 years. Chris McCarthy has shown to be a ruthless businessman who only knows one strategy: consolidate power, cut employees, make derivative programming, find a way to boast about it.
Fact is: This will keep happening. And truthfully it has to happen. If you ignore the feckless leadership — a large thing to set aside admittedly — Netflix has eaten everyone’s lunch. Amazon and apple have unlimited money. Disney, Discovery/Max, Paramount are left drinking whatever water leaks through the cracks. Skydance is likely not a tide to lift this boat either. There will be massive layoffs when that transaction is completed as well next year.
My advice is if you’re “lucky” enough to stay on next month do the bare minimum you can and continue to seek other employment, find another career, go back to school, get side gigs, whatever you can do to make as much money as you can off of Paramount, maintaining employment, while earning extra income or bettering your future prospects because if the recent past is the best predictor of future results you can see that future ultimately is not at this organization whether that time comes next week or next year.
That’s the truth folks.
All these other percentages, reorg rumors, basically this entire panic room website—that’s all fiction. For now anyway.
But please let’s not pretend like you know something because you heard someone you know who knows someone who’s manager heard that they laid off Ferris at 31 flavors last night.
I don’t think the number is that high for P+ but maybe for all of streaming. P+ and Pluto but I still doubt that high. They removed a lot of contractors so they didn’t have to impact as many employees.