Company behind Paramount Pictures, Nickelodeon and CBS writes down value of its cable networks by nearly $6bn The entertainment conglomerate behind Paramount Pictures is to cut about 2,000 jobs in a bid to reduce costs ahead of a merger with the independent film studio Skydance. Paramount Global, which also owns CBS, Nickelodeon and the UK's Channel 5, announced plans to cut about 15% of its US workforce alongside its latest earnings on Thursday.
Paramount Global to cut 15% of its US workforce before Skydance merger
The Guardian - 8 Aug 2024 23:56
Company behind Paramount Pictures, Nickelodeon and CBS writes down value of its cable networks by nearly $6bn The entertainment conglomerate behind Paramount Pictures is to cut about 2,000 jobs in a bid to reduce costs ahead of a merger with the independent film studio Skydance. Paramount Global, which also owns CBS, Nickelodeon and the UK's Channel 5, announced plans to cut about 15% of its US workforce alongside its latest earnings on Thursday.
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