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flag Paramount Global plans to cut 800 jobs (3% of workforce) amid the shift from traditional TV to streaming services.

flag Paramount Global is laying off approximately 800 employees, or 3% of its workforce, according to an internal memo from CEO Bob Bakish. flag The cuts come as the company seeks to boost profits amidst shifting viewer habits and economic uncertainties. flag Paramount+, the company's online TV service, is not currently profitable, and attendance at movie theaters has not fully recovered to pre-pandemic levels.

14 months ago
24 Articles