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Paramount Global Laying Off 800 Employees as CEO Bakish Cites Need to Cut Costs
Paramount Global, amid a swirl of M&A discussions, is laying off about 800 employees worldwide as it looks to trim costs.
According to the memo, U.S. employees being laid off will be informed by the close of business Tuesday; international staff members will be notified “over time in line with our local legal obligations in each of the countries where we operate.” Skydance Media CEO David Ellison has been in talks with Shari Redstone, whose National Amusements Inc., owns a controlling stake in Paramount Global, about buying NAI. We continue to release films, like Bob Marley: One Love this week, which reinforce our heritage as one of Hollywood’s most iconic movie studios.
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