As Paramount Global cuts costs across its divisions, operations for development and current at Paramount TV Studios have been consolidated, TheWrap has learned.
Programming operations for Paramount TV Studios (PTVS), which includes Paramount+ scripted originals since absorbing the team in 2022, will now be led by head of development Jana Helman, who will continue reporting to PTVS President Nicole Clemens.
Amid the effort to streamline the divisions, several senior executives at the studio are set to exit, including EVP and head of current Cheryl Bosnak, SVP of development Kate Gill, VP of current Julie Katchen and development manger Devin Crossfield, according to an individual with knowledge of the consolidation.
While PTVS’ development and current teams will remain independent from CBS Studios, communications operations between the studios have also been consolidated, and will be led by CBS Studios’ EVP of communications Kristen Hall. As a result, SVP and head of communications Dominic Pagone will also depart the studio.
The communications division adds to the roster of support operations shared between CBS Studios and PTVS after the studios combined finance, law, production, business affairs and casting teams in November 2022.
Elsewhere, TV executives impacted by the company’s cuts include Brie Neimand, who served as SVP of current, cable and streaming series at CBS Studios, and Geoff Stier, who served as SVP of original programming at Showtime Networks.
Layoffs also hit 20 CBS News staffers, according to an individual with knowledge of the cuts. Award-winning senior correspondent Catherine Herridge, who is currently involved in an influential First Amendment court case, was among those laid off on Tuesday, according to the New York Post.
News of the consolidation comes hours after Paramount Global CEO Bob Bakish notified staffers early Tuesday of the impending layoffs, citing the need to “grow revenue, while reducing costs” amid discussions to sell all or parts of itself.
“Unfortunately, part of streamlining costs means that today, we will begin the difficult process of saying goodbye to some of our very valued colleagues across Paramount,” Bakish wrote in the memo to employees. “We will be notifying impacted employees who are based in the U.S. by the close of business today.”
Deadline first reported the news.
The post Paramount TV Studios Consolidates Development and Current Operations, Senior Execs Exit appeared first on TheWrap.