Paramount Is Shuttering Its TV Studio

Paramount Global will be closing the doors of its namesake TV studio. The news arrived as part of a round of layoffs that Paramount announced last week, cutting 15% of its staff, about 800 jobs across the company.The company is aiming to cut costs by about $500 million USD ahead of its planned merger with Skydance. Paramount TV president Nicole Clemens and CEO George Cheeks informed staff of the studio's closure on Tuesday morning."This has been a challenging and transformative time for the enti...