Paramount Global announces layoff of 800 employees a day after record Super Bowl viewership

[Jobhunter]

In a surprising turn of events, Paramount Global, a major player in the media industry, has announced the layoff of approximately 800 employees. This announcement came just a day after the company celebrated record Super Bowl viewership on its CBS network.

 

The layoffs, which represent roughly 3% of Paramount Global’s workforce, were communicated by CEO Bob Bakish in an internal memo. The move is seen as an effort to cut costs and operate as a leaner company. This decision has sent ripples through the industry, highlighting the challenges faced by traditional media companies in the rapidly evolving digital landscape.

 

Read more:

• https://www.nytimes.com/2024/02/13/business/media/paramount-layoffs.html
• https://www.hollywoodreporter.com/business/business-news/paramount-layoffs-memo-staff-cuts-1235823470/
• https://edition.cnn.com/2024/02/13/media/paramount-global-layoffs-super-bowl/index.html