Paramount Global CEO Bob Bakish was in attendance at the 2022 MTV Europe Music Awards (EMAs) at the PSD Bank Dome in Duesseldorf, Germany on November 13, 2022. The company is making significant changes, with Bakish announcing in an internal memo that they will be laying off approximately 800 employees, which amounts to about 3% of its workforce. This decision comes just a day after CBS, which is owned by Paramount Global, reported record viewership for the Super Bowl. The affected employees will be notified on Tuesday. Despite the layoffs, Bakish expressed optimism about the company’s future and its strategic vision for the year ahead. As a result of this news, Paramount shares fell about 4% in morning trading on Tuesday. The number of cuts was first reported by Deadline in January. Paramount Global is a major player in the entertainment industry, and these developments are closely watched by industry insiders and investors.
2024-02-14 00:29:09
Article from www.cnbc.com
