/cdn.vox-cdn.com/uploads/chorus_asset/file/25530671/Paramount.png "Paramount is shutting down its TV studio as a part of a brand new wave of layoffs")
Within the memo, Clemens and Cheeks insisted that whilst Paramount TV is coming to an finish, “our ethos will continue to exist in displays that can proceed to be loved by means of international audiences for years yet to come.” Ultimate week, Paramount stated that as a way to convey down its spending prices, it used to be making ready to slash its headcount by means of 15 p.c throughout its advertising and marketing, comms, tech, and finance divisions. That plan used to be at all times supposed to be rolled out in 3 levels, and lately, Cheeks and fellow co-CEOs Chris McCarthy and Brian Robbins shared in a memo of their very own that 90 p.c of the ones activity cuts will have to be completed by means of this September.“The business continues to adapt, and Paramount is at an inflection level the place adjustments should be made to enhance our trade,” the CEOs stated. “And whilst those movements are incessantly tough, we’re assured in our path ahead.”
