Monday kicked off a shock and awe campaign on Showtime when the departures of a number of top executives were announced in quick succession. By the end of the day, a total of around 120 people had lost their jobs as a result of the layoffs, sources confirmed to Deadline. This is more than 10% of the company’s workforce.
Leading the quarter are Entertainment Co-Presidents Gary Levine (moving to an advisory role) and Jana Winograde, along with EVP Nonfiction Vinnie Malhotra, COO and CFO Michael Crotty, EVP and General Counsel Rob Rosenberg, and EVP Content Acquisition Kent Siebener .
While Showtime’s content strategy has changed under Chris McCarthy, the scripted content team under EVP Amy Israel is said to have remained largely intact as it now joins Paramount’s Keith Cox on Nina L. Diaz, chief creative officer and president of content, Network reports , who was appointed president of Scripted.
Showtime, already on track to be integrated into Paramount+, is now merging with MTV Entertainment Studios. The double consolidation led to the layoffs that have been lurking for months. Dubbed internally “The Valentine’s Day Massacre,” the cuts reportedly affected shared services as well as other areas, including nonfiction.
McCarthy addressed the layoffs in his memo this morning.
“With this new structure, we say goodbye to several colleagues and friends who have been instrumental in making Showtime what it is today, including the leadership team,” he wrote. “Join us in thanking them for their valuable contributions and wishing them well in their next endeavors.”
Source: Deadline
Joseph Fearn is an entertainment and television aficionado who writes for The Fashion Vibes. With a keen eye for what’s hot in the world of TV, Joseph keeps his readers informed about the latest trends and must-see shows.
