Paramount Global said Tuesday it’s laying off some of its “very valued colleagues,” including on its Paramount+ team. Variety reported Tuesday the cuts will affect about 800 employees, an estimated three percent of the media giant’s workforce. “I am confident this is the right decision for our future,” CEO Bob Bakish wrote in a leaked staff memo. Paramount Global’s revenue grew three percent in the third quarter of 2023.
Bakish’s memo says the company will notify terminated staff by the close of business on Tuesday. He added that international offices will be affected, too. “Those notifications will
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