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7mo ago

Paramount's Erin Calhoun Steps Down Amid Major Layoffs

Calhoun's exit comes as Paramount aims to cut 15% of its U.S. workforce to save $500 million.

Overview

  • Erin Calhoun, EVP and Head of Communications for Paramount Streaming & Showtime, will leave the company at the end of September.
  • Calhoun's departure is part of a broader restructuring effort that includes significant layoffs across marketing, streaming, and communications divisions.
  • Paramount is in the process of reducing its U.S. workforce by 15%, with 90% of the cuts to be completed by the end of September.
  • The company is also preparing for a merger with Skydance Media, expected to finalize in the first half of 2025.
  • Paramount has engaged bankers to explore asset sales, including potential deals involving Pluto TV, BET, VH1, and the Paramount lot.