(Reuters) – Media company Paramount Global, looking to reduce costs as it merges its Showtime and MTV networks, is letting go about 25% of the staff in its domestic cable networks, Bloomberg News reported on Tuesday.
According to the report, employees will be notified on Tuesday.
Paramount, formerly known as ViacomCBS, did not immediately respond to a Reuters’ request for comment.
(Reporting from Chavi Mehta at Bengaluru, editing by ShounakDasgupta.)
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