Showtime cuts over 100 jobs as part of Paramount’s restructuring plan

Showtime has cut about 120 jobs as the premium cable network prepares to merge with its parent company’s flagship streaming service Paramount+, a company spokesman confirmed to The Post.

Paramount Media Networks head Chris McCarthy said the job cuts announced on Monday by the network behind hit shows like Vests Yellow and Billions were part of Paramount’s broader restructuring of Global.

McCarthy said the company will solidify its lead in Showtime and MTV Entertainment Studios, according to The Hollywood Reporter late Monday night.

A Paramount spokesperson declined to provide details on which Showtime divisions were affected by job cuts.

The restructuring will see MTV Studios lieutenant Nina Diaz move into the role of chief creative officer and president of content for Showtime and MTV Entertainment Studios. Keith Cox will take the reins as President of both divisions and will report to Diaz.

The regrouping led to the fact that many leaders left the company. They include Showtime co-president of entertainment Jana Winograd, COO and CFO Michael Crotty, executive vice president of non-fiction Winnie Malhotra, executive vice president and general counsel Rob Rosenberg, and vice president and entertainment consultant Kent Sevener. . Showtime co-president Gary Levine will step into an advisory role.

The changes follow Paramount Global’s Jan. 30 announcement that cable channel Showtime and Paramount+ will be rebranded as Paramount+ With Showtime.

The company said at the time that McCarthy would lead Showtime and the cable channel, while Tom Ryan, president and CEO of Paramount Streaming, would oversee the streaming business.

Paramount Global, which owns CBS, MTV, Nickelodeon, Showtime and the Hollywood studio of the same name, will report fourth-quarter 2022 earnings on Thursday.