Showtime axes more than 100 jobs amid Paramount restructuring

February 14, 2023

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

The job cuts announced Monday by the network behind hit shows like “Yellowjackets” and “Billions” came as part of a wider restructuring at Global Paramount, according to Paramount Media Networks chief Chris McCarthy.

McCarthy said the company will consolidate leadership across Showtime and MTV Entertainment Studios, according to a report from The Hollywood Reporter late Monday.

A Paramount rep declined to provide specifics on which divisions within Showtime were impacted by the job cuts.

Paul Giamatti as Chuck Rhoades in BILLIONS — Showtime, which is known for “Billions” starring Paul Giamatti (right), has been rebranded as “Paramount+ With Showtime.”

Christina Ricci as Misty, Juliette Lewis as Natalie, Tawny Cypress as Taissa and Melanie Lynskey as Shauna in YELLOWJACKETS, âSic Transit Gloria Mundiâ. — Showtime, creator of the hit show “Yellowjackets,” has axed 120 jobs.

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

The rejiggering has translated to a slew of execs exiting the company. They include Showtime co-president of entertainment Jana Winograde, COO and CFO Michael Crotty, executive vice president nonfiction Vinnie Malhotra, executive vice president and general counsel Rob Rosenberg and vice president and entertainment counsel Kent Sevener. Showtime co-president Gary Levine will transition to an advisory role.

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

In this photo illustration, Showtime of a US television network is seen on a smartphone and a pc screen. — Paramount Global is in the process of restructuring premium cable channel Showtime.

At the time, the company said McCarthy will lead the Showtime studio and cable channel, while Tom Ryan, the president and CEO of Paramount Streaming, will oversee the streaming business.

Paramount Global, which owns CBS, MTV, Nickelodeon, Showtime and its namesake Hollywood studio, is set to report its fourth-quarter 2022 earnings on Thursday.