Paramount CEO warns staff of layoffs, CNBC reports

Paramount CEO Bob Bakish said in a memo to employees, according to CNBC: “Our priority is to drive earnings growth. And we’ll get there by growing our revenue while closely managing costs – a balance that will require every team, division and brand to be aligned… Where possible, we’ll look to expand our shared services model as we streamline operations. As it has over the past few years, this does mean we will continue to reduce our workforce globally.” Paramount, which reports quarterly earnings at the end of February and plans to elaborate on its 2024 strategy then, did not immediately disclose how many jobs the company would cut, reported CNBC’s Sara Salinas.