Monday started with a shock and awe campaign at Showtime as the exits of a slew of top executives were announced in short succession. By the end of the day, about 120 people in total had lost their jobs in the layoffs, sources confirm to Deadline. That represents more than 10% of the company’s workforce.
Leading the departures are Co-Presidents of Entertainment Gary Levine (who is segueing to an advisory role) and Jana Winograde as well EVP Nonfiction Vinnie Malhotra, COO and CFO Michael Crotty, EVP and General Counsel Rob Rosenberg and EVP Content Acquisition Kent Sevener.
As Showtime’s content strategy is shifting under Chris McCarthy, its scripted content team under EVP Amy Israel is believed to have remained largely intact as it now reports to Nina L. Diaz, Chief Creative Officer & President of Content, alongside Paramount Network’s Keith Cox, who has been named President of Scripted.
Already on track to be integrated with Paramount+, Showtime is now merging with MTV Entertainment Studios. The double consolidation has resulted in the layoffs, which had been looming for months. Dubbed internally as The Valentine’s Day Massacre, the cuts reportedly involved shared services as well as other areas, including nonfiction.
McCarthy addressed the layoffs in his memo this morning.
“With this new structure, we will be saying goodbye to several colleagues and friends who have been vital in making Showtime what is today including from the executive team,” he wrote. “Please join me in thanking them for their invaluable contributions and wishing them the best in their next endeavors.”
