Paramount to cut 3.5% of its workforce
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Paramount Global is slashing its U.S. workforce by 3.5% as it takes "hard, but necessary steps to further streamline" the company, according to a memo obtained by FOX Business.
In a move that blindsided many staffers, Paramount has fired its longtime media agency of record WPP Media ahead of the close of its merger.
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The pending $8 billion merger has been stuck in regulatory limbo as the media giant fends off a $20 billion lawsuit from President Trump.