August 13, 2024
Paramount Begins Layoff of 15% of Workforce
In an internal memo, Paramount's co-CEOs said the company is at an "inflection point" where changes are necessary to strengthen the business.
The layoffs, which were announced during a post-earnings call last week, are expected to affect about 2,000 people. The layoffs will continue through the end of 2024, with 90% of the cuts expected to be completed by the end of September.
ED MORRISSEYOuch. The economic environment for media is very difficult at the moment, for lots of reasons, but mergers are part of the problem.
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