Michael Engleman Exits As CMO Of Paramount+ Domestic & Showtime Amid Consolidation & Looming Layoffs

deadline.com:

Michael Engleman, Chief Marketing Officer for Paramount+ Domestic and Paramount+ with Showtime, will be leaving Paramount Global later this month.

He just announced his departure in an internal memo. (You can read it below.) Co-CEO George Cheeks revealed in June that $500 million in cost reductions have been identified as Paramount Global, carrying a $14 billion debt load, is looking to improve its balance sheet.

As Deadline reported at the time, that means more layoffs for a company that has already been through considerable de-layering, restructuring and staffing cuts since the 2019 close of the Viacom-CBS merger.

Workforce reductions were expected to begin this summer, with chatter intensifying over the last few days that they could come as soon as next week, with August 13 rumored as a potential date.