Paramount Slashes 25% of Staff, Shuts Down MTV News
- Paramount Global cuts 25% of total staff across its news and entertainment units.
- MTV News, Paramount’s long-running entertainment news division, will be shutting down as part of the restructuring.
- The cuts come amid financial troubles at Paramount, including a $1.1 billion loss in the first quarter of this year.
- Paramount is merging its Showtime cable networks and MTV Entertainment Studios in an attempt to cut costs.
- The layoffs are the latest in a series of cuts at major media companies struggling with industry changes and economic pressures.
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