Paramount Global, amid a swirl of M&A discussions, is laying off about 800 employees worldwide as it looks to trim costs.

Paramount Global, amid a swirl of M&A discussions, is laying off about 800 employees worldwide — an estimated 3% of its headcount — as it looks to trim costs.

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For the third quarter of 2023, Paramount Global’s revenue rose 3% thanks to its growth in its streaming and film businesses — but revenue in its largest division, linear TV, fell 8% as sales of traditional television advertising continued to contract (declining 14% in the quarter).

  • Semi-Hemi-Demigod@kbin.social
    131·
    9 months ago

    There are a lot of things that make capitalism a religion, and this is definitely one of them.

    Praise the All Powerful Market and His Invisible Hand!