Paramount Global makes significant workforce reductions in the U.S. and second-quarter earnings boost shares
Linked media - Linked media Paramount Global has announced a reduction of 15% in its U.S. workforce, aligning with a comprehensive cost-reduction strategy in anticipation of its upcoming merger with Skydance Media. The company disclosed plans to achieve $500 million in cost savings, contributing to a broader $2 billion in synergies expected from the Skydance merger. The impending layoffs, scheduled to commence shortly and conclude by year-end, will primarily affect departments such as marketing, communications, finance, legal, technology, and other support roles, as noted during their recent earnings call. Last month, Paramount confirmed its merger with Skydance Media, initiating a…
