Paramount cuts 25% of staff, winds down MTV News
In the latest round of media layoffs, Paramount Global has let go of a quarter of its domestic team across TV networks today. The recently combined Showtime/MTV Entertainment Studios as well as Paramount Media Networks, overseen by the division’s President and CEO Chris McCarthy, called the cuts “a very hard but necessary decision.” According to the Hollywood Reporter, McCarthy’s unit is in the midst of combining teams as part of a reorganization merging Showtime with Paramount+. The memo, from McCarthy, also stated: “Despite this success in streaming, we continue to feel pressure from broader economic headwinds like many of our
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