Paramount Global CEO Bob Bakish announces layoffs to streamline the company and prioritize powerful franchises across platforms while focusing on key markets.

Paramount Global CEO Bob Bakish has announced that the company will undergo layoffs as part of its efforts to become a leaner organization focusing on cost management. The media company will prioritize its most powerful franchises, films, and series and distribute them across various platforms, including streaming, film, television, and licensing. The company aims to focus on major markets such as the U.S., Canada, the U.K., and Australia to drive profitability. No specific number of job cuts has been disclosed by the company.

January 25, 2024
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