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Paramount Global announces it will cut 15% of U.S. workforce, shares rise on second-quarter earnings - TL;DR CNBC

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

Tickers: WBDPARA

Keywords: breaking news: earningsbusiness newsparamount globalwarner bros discovery incbreaking news: businesstechnologyearningsmedia

Source: https://www.cnbc.com/2024/08/08/paramount-global-para-q2-earnings-report-2024.html


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