Layoff Speculation Hits Paramount Following CEO Memo

Bob Bakish said the company will 'continue to reduce our workforce globally'

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Layoffs are apparently in the works at Paramount.

Top line

On Thursday, Paramount CEO Bob Bakish sent an internal memo seemingly announcing cuts, saying a 2024 priority is to drive earnings by growing revenue and closely managing costs.

The memo came amid news that talks have heated up for a Paramount buyer. Bloomberg reported that David Ellison’s Skydance Media is making an offer to the Redstone family for National Amusements, a holding company that directly or indirectly owns 77% of the voting shares of Paramount and also controls CBS.

Between the lines

In the memo, obtained by Adweek, Bakish notes that the balance between revenue growth and managing costs will require “every team, division and brand to be aligned.”




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