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Paramount Global to Cut 3.5% of US Workforce Due to Decline of Cable-TV Industry
- The move will affect several hundred workers mostly in US
- Paramount previously cut 15% of its workforce last year
The Paramount Global headquarters in New York.
Photographer: Yuki Iwamura/BloombergParamount Global plans to cut several hundred employees on Tuesday due to a continuing decline in the cable-TV industry and the broader economic landscape.
The move will affect about 3.5% of the media company’s US workforce, according to an internal memo sent to staff reviewed by Bloomberg.