Get the latest gossip
Paramount to Lay Off 15% U.S. Workforce, About 2,000 Employees, in Fresh Round of Cuts
Paramount Global will cut 15% of its U.S. workforce in the next few weeks, coming ahead of its planned merger with Skydance Media.
Paramount Global will cut 15% of its U.S. workforce in the next few weeks, a new round of layoffs coming ahead of its planned merger with Skydance Media. The three co-CEOs previously announced plans to cut $500 million in annualized costs, including through layoffs, before the Skydance pact was clinched with controlling shareholder Shari Redstone and Paramount’s board. Jeff Shell, set to become president of the combined company, has said Skydance, working with consulting firm Bain & Co., is aiming to achieve at least$2 billion in annualized cost cuts at Paramount.
Or read this on Variety
