Paramount’s film division recently faced significant layoffs, with around 1,000 employees expected to be let go as part of a restructuring plan to save $2 billion. Among those departing is Randy Spendlove, president of Worldwide Music, who has been with the company since 2006 and is noted for his Grammy-winning achievements and contributions to major film soundtracks. Other key executives departing include Brian Orr (senior vice president of production), Jeff Stier (vice president of production), and several others across various departments.
Co-chairmen Dana Golberg and Josh Greenstein expressed their gratitude for the contributions of those leaving in a memo to staff, acknowledging the challenges posed by the layoffs. They emphasized the necessity of “rightsizing” the organization to align with upcoming opportunities, while also highlighting the broader context of layoffs affecting the media industry.
The move is part of a strategy by Paramount and newly affiliated Skydance, aiming to streamline operations within their combined workforce of about 20,000. There are also plans for further cuts in offshore offices, impacting television and marketing departments.
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