Paramount initiates $500M cost-cutting strategy, cutting 15% US workforce and 2,000 jobs.

Paramount, amidst its acquisition by Skydance Media, is initiating a cost-cutting strategy aimed at saving $500 million. The company has already reduced its US workforce by 15% and plans to cut about 2,000 jobs, focusing primarily on marketing and administrative roles. By the end of the current round, 90% of layoffs will be completed, streamlining operations in various support functions across the organization.

September 24, 2024
16 Articles

Further Reading