A large number of New Yorkers are looking for a new job. The layoffs come after a major company announced a merger.
Paramount Global Laying Off Over 1,160 Workers
Paramount Global is laying off 15 percent of its employees
According to a New York State Worker Adjustment and Retraining Notification (WARN) notice, Paramount Global confirmed plans to lay off 1,168 employees in New York State.
The majority of the impacted New Yorkers work on Broadway in New York City, according to the WARN notice.
Below are the impacted sites and a number of employees:
- Address: 1515 Broadway, New York, NY 10036
Number of Affected Employees at Site: 1,031 - Address: 513 W. 57th Street, New York, NY 10019
Number of Affected Employees at Site: 9 - Address: 518 W. 57th Street, New York, NY 10019
Number of Affected Employees at Site: 2 - Address: 524 W. 57th Street, New York, NY 10019
Number of Affected Employees at Site: 57 - Address: 530 W. 57th Street, New York, NY 10019
Number of Affected Employees at Site: 13 - Address: 555 W. 57th Street, New York, NY 10019
Number of Affected Employees at Site: 53 - Address: 51 W 52nd St, New York, NY 10019
Number of Affected Employees at Site: 2 - Address: 1697 Broadway, New York, NY 10019
Number of Affected Employees at Site: 1
Many employees were informed at the end of September, according to the WARN notice.
Over the summer, Paramount executives said it was at an inflection point where changes must be made to strengthen the company.
Executives announced plans to cut $500 million from the company’s budget and agreed to merge with Hollywood heavyweight Skydance.
