Paramount Global will begin laying off 15% of its U.S. workforce starting Tuesday, affecting around 2,000 employees. This move is part of a plan to cut annual costs by $500 million and drive profitable growth ahead of its merger with Skydance Media. The job cuts, announced last week, will continue through 2024, with 90% expected to be completed by September. The restructuring follows a significant write-down of its cable networks and comes amid challenges in the linear TV market.
Disclaimer : Mymoneytimes implements extreme caution and care in collecting data before publication. Mymoneytimes does not liable for the adequacy, accuracy or completeness of any given information. Hence we are not liable for any kind of direct or indirect loss caused by the use of such information.