From CNBC:

Paramount CEO Bob Bakish announced layoffs to create a leaner company and reduce costs. The number of jobs being cut was not disclosed, but the company plans to reduce international content spending. The media giant reports their quarterly earnings at the end of February and a 2024 strategy will be discussed. Layoffs in the media industry are becoming common, with other companies such as the Los Angeles Times and Sports Illustrated also cutting jobs. The layoffs come as David Ellison’s Skydance Media explores a deal to take Paramount private. Bakish acknowledged challenges facing the company, including economic volatility and Hollywood strikes, but remains focused on execution and adapting to current realities.



Read more: Paramount CEO Bob Bakish announces layoffs