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Paramount is shutting down its TV studio as part of a new wave of layoffs
Paramount’s latest round of layoffs is here and brutal.
Ahead of its upcoming merger with Skydance Media, Paramount is winding down its TV production studio as part of a larger restructuring effort that will put 15% of its current workforce out of jobs. In the memo, Clemons and Cheeks insisted that while Paramount TV is coming to an end, “our ethos will live on in shows that will continue to be enjoyed by global audiences for years to come.” Last week, Paramount said that, in order to bring down its spending costs, it was preparing to slash its headcount by 15% across its marketing, comms, tech, and finance divisions. That plan was always meant to be rolled out in three phases, and today, Cheeks and fellow co-CEOS Chris McCarthy and Brian Robbins shared in a memo of their own that 90% of those job cuts should be finished by this September.
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