Paramount began a planned second wave of layoffs on Tuesday morning, nearly completing a 15% staff reduction announced last month.
“In order to set Paramount up for continued success, we are taking these actions, and after today, 90% of these reductions will be complete,” according to an employee memo from Paramount co-CEOS George Cheeks, Chris McCarthy and Brian Robbins said.
Paramount said this summer it would cut 15% of its U.S. workforce, or about 2,000 employees, in its planned merger with Skydance Media.
The cuts, aimed at achieving Paramount’s plan to trim $500 million by 2025, will be primarily focused on marketing and communications, as well as finance, legal, technology and other support functions.
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