Paramount Global's board approves bonuses for co-CEOs before merger, with $500M cost cuts and 15% US workforce layoffs.

Paramount Global's board has approved annual bonuses for its co-CEOs—George Cheeks, Chris McCarthy, and Brian Robbins—effective from their appointment on April 29. This decision ensures they receive severance benefits if their roles change post-merger with Skydance Media, expected in 2025. The company is cutting costs by $500 million, including layoffs of 15% of its U.S. workforce, amid ongoing restructuring efforts.

October 15, 2024
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