In their prepared remarks, however, the execs did not discuss timing of when mass layoffs might hit across the company or how large the cutbacks will be. During the Q&A portion of the town hall, the co-CEOs were asked if they had a timeline for job cuts but they didn’t provide one. As the trio of execs previously disclosed, Cheeks said the Paramount leaders are “looking at selling certain Paramount-owned assets” and said, “in fact, we’ve already hired bankers to assist us in this process … READ MORE @ VARIETY
In recent months, Paramount has discussed merging Paramount+ with NBCUniversal’s Peacock in some way. The two companies are already joint-venture partners in the European streaming service SkyShowtime.
VARIETY: Paramount Global Co-CEOs Have Hired Bankers to Evaluate Asset Sales, Tell Employees They’ve Identified Areas for Job Cuts
