CNBC: Paramount Global lays off about 800 employees

CNBC reports:

Paramount Global is laying off hundreds of employees, just one day after the company announced CBS had record Super Bowl viewership, Chief Executive Officer Bob Bakish said Tuesday in an internal memo to employees.

Paramount will lay off about 800 people, or an estimated 3% of its workforce, according to a person familiar with the matter. Paramount Global ended 2022 with about 24,500 full-time and part-time employees.

Affected workers will be notified Tuesday, Bakish said in the note.

“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,” Bakish wrote in the note…

To read the full post, please click here.