Paramount (CF) Laying Off

It is rumored the suits of Sandusky are travelling this week laying off a fair amount of PP employees. All GMs are gone, the entire PP office in NC is gone, many others are gone. Titles and pay have been slashed. Cedar Fair is taking it to the Paramount people in a big way.
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EDIT:

Here is an update I found on the beginning of their restructuring:

Worlds of Fun gets new general manager
Kansas City Business Journal - 1:48 PM CDT Thursday

Cedar Fair LP has promoted Worlds of Fun General Manager H. Phillip Bender to regional vice president and Director of Retail Frank Wilburn to succeed Bender as general manager.

Wilburn started with Worlds of Fun in 1982, and Bender joined Cedar Fair in the early 1970s, Cedar Fair, based in Sandusky, Ohio, said in a release.

Bender now oversees Worlds of Fun and four other parks after parent company Cedar Fair (NYSE: FUN) paid $1.24 billion for Paramount Parks Inc., based in Charlotte, N.C.

The other parks he oversees are Geauga Lake & Wildwater Kingdom in Aurora, Ohio; Paramount Canada's Wonderland in Vaughan, Ontario; Paramounts Kings Island in Kings Mills, Ohio; and Star Trek the Experience in Las Vegas.

Worlds of Fun spokesman Nick Guevel said the changes are effective starting Thursday.
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Some additional comments:

I know GM at Canada and Great America were let go. I think 15 people in Carrowinds. At least a few in Kings Dominion. As stated in my original post, salaries of some of the top staff were reduced and they are moving some people around. Charlotte offices and the people have been let go - but nearly all with contracts so they will still get paid for a little longer. *** Edited 8/11/2006 1:49:57 AM UTC by SirCharles***

EDIT 2:

Greg Scheid was the GM of Dorney Park and was just installed as the GM at Kings Island, which is why he was there today. Again, all GMs were let go. Good time to be a CF employee as many are being bumped up. Bad time to be a PP employee as they are getting let go, cuts, etc.

*** Edited 8/11/2006 1:57:47 AM UTC by SirCharles***

Uhh.

The GM of PKI attended a media event at the new Great Wolf Lodge today, he's certainly not gone.

I could believe the NC office is being dissbanded, However until new people are chosen that they want. I see each parks GM's and managment staying put. It would be ludicris to do otherwise.

Chuck

Until we hear it from a source, this is exactly how you put it: a rumor.

Closing

Kings Island's GM is Greg Schied, who I believe was installed after the Cedar Fair take-over. My guess is that there is restructuring going on - they are likely still moving around and dumping higher-ups, if they haven't done so yet. Yes, the very top will still be in Sandusky, but I doubt the Point will hold all of the company's offices. There's even some talented staff from Paramount Parks that CF probably wants to hold onto.

Having heard Kinzel's speech at the 2nd Qtr conference, I wouldn't be surprised if that the former PP offices in Charlotte becomes Cedar Fair's southern operations office, overseeing WoF, Carowinds, and KD. The west coast operations office, which I think has already been in place, will also do Great America and Knott's, and the others in CA and NV. Everything else, including CP, CanWon and KI will be out of Sandusky.