Paramount To Complete '90%' of Planned Staff Cuts Tuesday, Report Says

Key Takeaways Paramount Global is reportedly moving forward Tuesday with the second phase of employee cuts it announced in August, according to a staff memo. Paramount said last month that it would lay off roughly 2,000 employees, or 15% of its workforce, ahead of its planned merger with Skydance Media. Paramount's co-CEOs called the decision part of a plan to "accelerate streaming profitability." Paramount Global (PARA) is moving ahead with the second phase of the roughly 15% workforce reduction it announc ...