As a seasoned labor lawyer with over three decades of experience, I find it disheartening to see such a reputable company like Paramount Global potentially breaching employment laws. The alleged failure to provide the legally required 90-day notice for mass layoffs is a significant oversight that could have severe consequences for their former employees.
A terminated worker from Paramount Global, who was let go during the recent wave of layoffs, has filed a lawsuit asserting that he didn’t receive the statutory notice prior to being dismissed. Paramount Global has countered by stating that the allegations are unfounded and lack any basis in fact.
I, being a supporter, have just learned that a legal action, initiated on Thursday in the U.S. District Court for the Southern District of New York, is aiming for class-action status. This case was filed on my behalf, and others like me whose employment was terminated around September 24th. The lawsuit seeks the same relief for all those in a similar situation, as stated in the legal document itself. CBS Interactive and Paramount Global are listed as defendants in this lawsuit. For more details, you can access the original lawsuit using this link.
Approximately 300 employees, including Hagins, who were based at or reported to Paramount’s headquarters located at 1515 Broadway in Manhattan, received written notice on September 24 about their termination to be effective on September 30. The lawsuit claims that this is less than the 90 days’ notice required by New York’s Worker Adjustment and Retraining Notification (WARN) law. As stated in the complaint, Hagins had been working remotely from his home in Orange, California for Paramount on a full-time basis since around March 2022 until September 2024.
As stated in the legal action, the New York district court holds authority over the plaintiff’s New York WARN claims due to two reasons: firstly, over 100 potential class members are believed to be impacted by the defendant’s alleged breaches; secondly, more than $5 million is in dispute.
I, as an admirer of fairness, acknowledge a legal action aimed at compelling Paramount to remunerate Hagins and other terminated staff, equivalent to 60 days’ unpaid earnings (which includes wages, commissions, bonuses, accrued holiday pay, vacation pay, pension contributions, 401(k) contributions, healthcare benefits, and additional benefits). This demand is based on the New York WARN act, a legislation that requires employers to give employees at least 90 days’ notice before a mass dismissal. In case of non-compliance, the employer is expected to compensate the affected staff with 60 days’ worth of wages and benefits, as stated in the lawsuit.
Paramount Global contests the main claim made in the legal action. “The assertions lack basis in reality,” stated a representative for Paramount, speaking to EbMaster. “Any Paramount employees who are entitled to Federal or State WARN notifications have indeed received them.
As a cinephile, I’m keeping a close eye on industry news, and today, I learned some troubling updates from Paramount. In a company-wide memo penned by their co-CEOs, they announced the next phase of their layoffs, scheduled for Sept. 24. This round is part of a larger strategy to reduce their U.S. workforce by 15%, which could potentially impact around 2,000 team members like myself.
The trio of CEOs at Paramount – George Cheeks, Chris McCarthy, and Brian Robbins – had previously disclosed their intention to reduce costs by $500 million per year, which could involve layoffs, prior to finalizing the Skydance Media deal with Shari Redstone (the controlling shareholder) and the Paramount board.
The financial savings goals set by Skydance’s team have been raised to a higher level. Jeff Shell, who will become president of the merged company, stated that Skydance, in collaboration with consulting firm Bain & Co., aims to generate at least $2 billion in annual cost reductions when combined with Paramount. Paramount has mentioned that this $2 billion figure encompasses their previously declared $500 million yearly cost-cutting target.
ALSO OF INTEREST: Larry Ellion, tech mogul, will gain control of Paramount Global following the completion of the Skydance deal: Court Documentation
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2024-10-03 23:16