Source of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Paramount Global will reportedly cut is workforce by 15 percent in another round of layoffs amid the entertainment industry’s uncertain future.
“These actions will take place in the coming weeks and will largely be completed by the end of the year,” McCarthy said. “As you can imagine, these are difficult decisions to make. We’ve incredibly talented people at Paramount and these actions are not a reflection of their contributions. Rather, they are necessary to transform our organization for the future next, transforming streaming.”
With the hefty savings goal, CFO Naveen Chopra added that reductions in cost “go beyond head count” and “won’t all happen necessarily at the same point in time.” “We’ve made most of the $500 million savings that you’ll see in the near term is head-count-related, but we do think that there are opportunities to significantly reduce costs in other areas as well,” Chopra said on the earnings call.as Nashville-based Savage Ventures acquired both companies.
Bodycam: PA Officer Says He Warned Secret Service to Secure Area Used by Thomas Crooks 5 Days Before Trump Rally
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Paramount/Skydance: The Birth of a New Hollywood Mogul?Read this post to get insight into the near-term future of New Paramount, the company formed by the merger of Skydance and Paramount.
Read more »
Paramount Global to lay off 15% of its US workforceParamount Global will cut approximately 15% of its U.S.-based workforce in upcoming layoffs, co-CEO Chris McCarthy disclosed in an earnings call on Thursday.
Read more »
Stocks making the biggest moves premarket: Taiwan Semiconductor, Insulet, Paramount Global and moreThese are the stocks posting the largest moves in premarket trading.
Read more »
Paramount Global, Expedia, Nvidia rise premarket; Array, Elf Beauty fallParamount Global, Expedia, Nvidia rise premarket; Array, Elf Beauty fall
Read more »
Paramount Global writes down cable networks value, cuts jobs; streaming profit boosts sharesParamount Global writes down cable networks value, cuts jobs; streaming profit boosts shares
Read more »
Paramount Global announces it will cut 15% of U.S. workforce, shares rise on second-quarter earningsParamount Global plans to cut 15% of its U.S. workforce as part of a broader $500 million cost reduction.
Read more »