Paramount Global, commonly referred to as Paramount, is a multinational media and entertainment conglomerate formed through the merger of a division of CBS Corporation and Viacom. Founded in 2019, the company’s divisions include televisions and media networks like MTV, Nickelodeon, and Comedy Central, etc. With its headquarters in New York City, USA, Paramount operates over 170 networks in about 180 countries.
According to CNN, Paramount Global has announced that it will be letting go of about 800 employees as the company plans to realign its strategic vision. The report further mentions that this job cuts will impact 3% of the company’s overall workforce as they look to reduce costs and increase revenue.
