What’s Happening at Paramount?
Entertainment giant Paramount Global (Paramount) is planning to eliminate approximately 3.5% of its workforce amid a decline in cable TV subscribers.
“We recognize how difficult this is and are very thankful for everyone’s hard work and contributions,” the company’s 3 CEOs said in a memo to staff on June 10.
“These changes are necessary to address the environment we are operating in and best position Paramount for success.”
The bombshell update comes shortly after streaming rival Disney announced that it was trimming several teams.
Impact on Canadian Staff
Paramount noted in its memo that it could trim its non-US workforce over time — potentially affecting Canadian employees.
According to LinkedIn, the company has more than 100 workers in the country.
Next Steps for Paramount Employees
If you’re fired or let go from Paramount, understanding your legal rights is crucial.
Non-unionized employees in Canada are entitled to severance pay. This includes individuals working full-time, part-time, or hourly in Ontario, Alberta, and British Columbia (BC).
The amount you’re owed is based on a variety of factors, including your role, tenure, age, and ability to find similar work.
📺 WATCH: Everything Non-Unionized Employees Need to Know About Severance Pay
Key Severance Facts:
- Compensation: Severance packages, which can be as much as 24 months’ pay, may include salary, bonuses, commissions, and other forms of compensation. Use our firm’s free Severance Pay Calculator to better understand your entitlements.
- Deadlines: You generally have up to 2 years from the date of your termination to review and negotiate severance offers.
- Action steps: Consult an employment lawyer at Samfiru Tumarkin LLP to ensure your severance package is fair and aligns with Canadian employment laws.
Lost Your Job at Paramount? Contact Us
If you’ve been fired or let go from Paramount, the experienced employment law team at Samfiru Tumarkin LLP can help.
Our lawyers in Ontario, Alberta, and BC have helped tens of thousands of non-unionized individuals resolve their workplace issues.
Call us today at 1-855-821-5900 or request a consultation online.
⛔ UNIONIZED?
You must consult your union representative regarding termination, severance pay, and other workplace issues. By law, employment lawyers can’t represent unionized employees with these issues. They’re governed by your collective bargaining agreement.
