Reported 2 months ago
Paramount is facing significant challenges, including an 11% drop in revenue, particularly in its TV media and film divisions, prompting the company to plan a 15% reduction in its U.S. workforce to save $500 million annually. Despite a 46% revenue increase from Paramount+, the company lost 2.8 million subscribers last quarter. This decision follows a series of layoffs and reflects a broader trend of job losses across various industries in the U.S.
Source: YAHOO