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Paramount Global Co-CEOs Have Hired Bankers to Evaluate Asset Sales, Tell Employees They’ve Identified Areas for Job Cuts
Paramount Global co-CEOs provided an update at an employee town hall on their plan to cut costs, boost revenue and pare down debt.
Paramount Global ‘s trio of co-CEOs provided an update Tuesday at a town hall for the company’s more than 20,000 employees on where things stand with their plan to cut costs, boost revenue and pare down debt after a potential merger with Skydance was called off. Parties that have come forward to express interest in a deal for NAI have included ex-Warner Music and Seagram boss Edgar Bronfman Jr. together with Bain Capital as well as producer and filmmaker Steven Paul. The expected job cuts will result in a “leaner and more nimble” company, Cheeks said, adding that layoffs will target “duplicative teams and functions across the organization, real estate, marketing and other corporate overhead categories.”
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