Reported 2 months ago
Paramount Global announced the closure of its TV studio as part of broader cost-cutting measures in anticipation of a merger with Skydance Media. The decision, as communicated in a memo to staff, reflects significant changes in the TV and streaming landscape rather than poor performance of the studio. The move will result in layoffs, aiming for a 15% reduction in the workforce, as the company restructures and prepares for the merger, which is expected to be finalized in 2025.
Source: YAHOO