Paramount Global Co-CEO Chris McCarthy confirmed the long-expected layoffs hitting the company, saying the media company plans to cut its U.S.-based workforce by about 15%.
Speaking on the company’s second-quarter earnings call, the exec said marketing and communications would be one of two areas to be targeted in the reductions. The other will be support functions including legal, finance and other areas of the company’s administrative operations. Deadline reported earlier Thursday that significant cuts were in the works.
https://deadline.com/2024/08/paramount-global-ceo-chris-mccarthy-confirms-layoffs-15-percent-employees-1236035080/