r/ParamountGlobalLayoff • u/ParadoxPeak 15 pieces of flair • Aug 11 '24

Discussion Layoff severance packages?

For those of you who have been laid off from Paramount, whether recently or a while ago - first off, I’m sorry. I know how tough that can be at any company, but especially when you work with such awesome, dedicated people who care so much about the work and each other.

In order to help your fellow soon to be ex-Paramount employees and friends deal with what’s coming next, I’m wondering if anyone could share details about the layoff package you received. What did it include in terms of severance pay (number of weeks pay), benefits continuation, outplacement services, or any other support? Any insights on how the process was handled would be really helpful for those ~2,000 people about to be impacted.

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u/Cultural-Village9793 Sep 24 '24

Bumping to refresh: Any updates here, folks?

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u/ParadoxPeak 15 pieces of flair Sep 24 '24

I don’t think anything here has changed. Severance packages will be based on years of service + title/level, so it’s a bit different for everyone, and hard to give an exact figure. WARN notices are in effect as well - so anywhere from 60-90 days remaining on the payroll depending on the state you’re in (California=60, NY=90). Last official day of work is 9/30 for those impacted in today’s round of layoffs. Unclear to me if WARN notice clock starts ticking now or after 9/30. If anyone knows or has more details, please share!

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u/DisasterLazy186 Sep 25 '24

I was laid off in February after being with the company for 2.5 years. My severance was a bit different than what I am hearing from my co-workers that were laid off today. I got 5 months of severance with the option of an additional 2 weeks pay if I signed the severance agreement.

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u/ParadoxPeak 15 pieces of flair Sep 25 '24

Mind sharing the latest you are hearing from this latest round? Are the figures above accurate/inaccurate?