Paramount Global announces it will cut 15% of U.S. workforce, shares rise on second-quarter earnings
Publishing timestamp: 2024-08-08 17:02:30
Summary
Paramount Global plans to cut 2000 jobs as part of cost savings ahead of merger with Skydance Media. Despite revenue declines, the streaming division swung to profit, leading to a surge in earnings and shares. The company is on track to reach U.S. profitability for Paramount+ in 2025.
Sentiment: MIXED
Keywords: breaking news: earnings, business news, paramount global, warner bros discovery inc, breaking news: business, technology, earnings, media,
Source: https://www.cnbc.com/2024/08/08/paramount-global-para-q2-earnings-report-2024.html