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Paramount Global’s Ad Group Lays Off Staff as Part of Companywide Cost-Cutting Move
Paramount Global's advertising group conducted layoffs as part of the media conglomerate's efforts to slash $500 million in annual costs
Paramount Global ‘s advertising group conducted a round of layoffs Tuesday, which are part of the media conglomerate’s efforts to slash $500 million in annual costs, Variety has confirmed. Paramount last month announced that it will lay off 15% of its U.S. workforce, eliminating 2,000 jobs, ahead of its merger with Skydance Media. “Today is going to be a difficult day as this process will affect our org and we will be parting ways with talented and valued teammates and friends,” Halley said in the memo.
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