PARA - Paramount Global to Reduce Workforce in February Faces Acquisition Interest and Internal Restructuring | Benzinga
Paramount Global (NASDAQ:PARA) looks to significantly reduce the workforce, with layoffs affecting hundreds of employees across all divisions in February.
However, initial speculation suggested 800 job cuts, the actual number will likely be lower but still substantial, Deadline reports.
Senior executives have reportedly been tasked with meeting specific reduction targets.
These layoffs, rumored to start around February 13, may require impacted employees to leave within a few days of notification, mirroring the quick departures seen during previous pandemic-related cuts.
In the last 14 months, Paramount, like other media companies, has experienced several rounds of layoffs.
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