Media giant begins mass layoffs of work force, hundreds expected to be cut
'We know that having to part ways with teammates whose contributions have been instrumental to our success is incredibly hard'
(FOX BUSINESS) — Paramount has begun laying off a significant portion of its workforce, with hundreds of employees expected to be cut in the coming weeks.
A memo signed by co-CEOs Chris McCarthy, Brian Robbins, and George Cheeks was leaked to entertainment outlets on Tuesday, including Deadline, in which the chief executives braced employees for the cuts.
“This process will take place in three phases, starting today and continuing through the end of the year,” the memo reads. “We expect 90% of these actions to be complete by the end of September.”
Originally Published at Daily Wire, World Net Daily, or The Blaze
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