Close Menu
    What's Hot

    Bad News For Employees Of THIS Company As It Lays Off 10,000 Workers, Reason Is… — Not Infosys, TCS Or Wipro | Economy News

    May 12, 2025

    Jewel Thief – The Heist Records 16.1m Views, Backets 2025’s Most -Vied Film On Netflix | Movies news

    May 12, 2025

    End of an era: Virat Kohli Retires from Test Cricket With Immediate Effect | Cricket News

    May 12, 2025
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    The World OpinionThe World Opinion
    Login
    • World
    • India
      • Chhattisgarh
      • Madhya Pradesh
      • Jharkhand
      • Uttar Pradesh
    • Economy
    • Technology
    • Sports
    • Entertainment
    The World OpinionThe World Opinion
    Home»Economy»Paramount Global Plans To Cut 800 Jobs In Cost-Cutting Measure | Companies News
    Economy

    Paramount Global Plans To Cut 800 Jobs In Cost-Cutting Measure | Companies News

    The World OpinionBy The World OpinionFebruary 15, 2024Updated:February 15, 20242 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    New Delhi: Paramount Global, the owner of broadcast and cable TV networks, has revealed plans to lay off numerous employees as part of its efforts to reduce expenses and increase revenue. Chief Executive Officer Bob Bakish announced the job reductions in an internal communication to employees.

    Although the CEO did not specify the precise number of employees to be laid off, CNN, citing sources, reported that around 800 workers, equivalent to approximately three percent of the company’s total workforce, would be impacted. (Also Read: Firefox-Owner Mozilla To Lay Off 60 Employees After Appointment Of New CEO: Report)

    The announcement follows shortly after CBS network achieved record-breaking advertising sales and aired the highest-rated Super Bowl telecast. Bakish noted in the memo that the job reductions would impact employees globally. (Also Read: Paytm Tentative Timeline To Restart Loan Sanctioning Ends Today, February 14)

    “These adjustments will help enable us to build on our momentum and execute our strategic vision for the year ahead — and I firmly believe we have much to be excited about,” the CEO wrote.

    The media company warned employees of impending cuts in a January 25 memo. Bakish said at the time that Paramount Global needs to operate as a leaner company and spend less. Paramount Global owns CBS, Paramount Pictures, Pluto TV, Paramount+ and cable networks, including Nickelodeon, BET and Comedy Central.

    Meanwhile, global music entertainment company Warner Music Group has announced to lay off 10 per cent of its workforce, or about 600 employees, in order to free up more money for music investment across the next decade.

    The majority of affected employees will be at the company’s owned and operated media properties, corporate and various support functions, as well as its in-house ad sales function, reports The Hollywood Reporter. (With IANS Inputs)

    Paramount Global Paramount Lay Off Warner Music Group Warner Music Group Layoff
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Bad News For Employees Of THIS Company As It Lays Off 10,000 Workers, Reason Is… — Not Infosys, TCS Or Wipro | Economy News

    May 12, 2025

    SEBI To Likely Relax Proposed Limits On Index Options Trading: Report | Economy News

    May 12, 2025

    What Is EPFO’s Missed Call And SMS Service? Check PF Details In One Click — Here’s How | Personal Finance News

    May 11, 2025
    -Advertisement-
    Advertisement
    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo
    Facebook X (Twitter) Instagram YouTube
    • About Us
    • Contact Us
    • Terms & Conditions
    • Privacy Policy
    © 2025 The World Opinion. All Rights Reserved.

    Type above and press Enter to search. Press Esc to cancel.

    Sign In or Register

    Welcome Back!

    Login to your account below.

    Lost password?