Paramount Global on Tuesday said that it will be laying off hundreds of employees for the firm to build “momentum”. According to a CNBC report, the company will be slashing at least 3% of the jobs at the firm. The news comes as a further disadvantage for Web3 and the crypto community who are already grappling with job cuts in the segment.
Media giant Paramount to lay off staff
CEO Bob Bakish of Paramount Global said in an internal message to staff members on Tuesday that the business is cutting off jobs for its workers. The workforce reduction comes at a time when the company is mounting good revenues. Just a day prior, the firm had announced record-breaking Super Bowl viewership on CBS.
According to the CNBC report, approximately 800 employees, or 3% of Paramount’s workforce, will be let go. By the end of 2022, Paramount Global employed over 24,500 people both full- and part-time. Paramount Global had just recently ventured into the Web3 and crypto space. The company had filed t
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