Paramount Global to Cut 2,000 Jobs Amid Cost-Cutting Plan. Aims for Paramount+ Profit in 2025.

Описание

Paramount Global intends to cut about 2,000 jobs or 15% of its U.S. workforce as part of a cost-cutting plan and to achieve $500 million in savings as it prepares for a merger with Skydance Media. Paramount's second-quarter revenue fell 11%, missing analyst estimates, due to declining TV licensing, advertising, and cable subscription revenues. Paramount+ subscribers decreased from last quarter, unwinding a partnership in Korea, though revenue from streaming grew year-over-year. Paramount reaffirmed its target to reach profitability for Paramount+ in the U.S. by 2025 through price increases and lower content spending.