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Paramount Global Unveils ‘Phase Two’ of Layoffs
Paramount Global said it was continuing to cut staff amid a difficult climate, hoping to net 90% of its overall layoffs
Paramount Global unveiled a second wave of staff cuts Tuesday morning, part of a larger bid by the owner of CBS, Comedy Central and MTV to reduce costs in a fraught era for traditional media companies. Like its contemporaries, Paramount is struggling to reap profits as more of the viewing base for its TV programs and movies migrates to streaming video and digital interaction. Paramount said in August that it would cut 15% of its U.S. workforce i– layoffs that were estimated to affect about 2,000 employees — coming ahead of its planned merger with Skydance Media.
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