Paramount attempts to stop the bleeding with another major layoff
As Paramount waits for merger approval, the company is laying off several hundred U.S. employees.
Photo: AaronP/Bauer-Griffin/GC Images
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To say that times are tough at Paramount would be putting it lightly. The company’s merger is allegedly being held up by a lawsuit with President Donald Trump, and attempts to appease Trump are causing dissent among the ranks (particularly in the news division). That dissent could make it impossible to close the merger, which would put Paramount Global and its controlling shareholders the Redstone family in utter financial peril, just as Shari Redstone battles cancer. When the news is all bad like that, what’s a studio to do but lay off a few hundred more employees!