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After a lean second quarter earning report, Paramount is moving forward with job cuts to try and restabilize the company. The Paramount layoffs will affect 15% of the workforce which is estimated to impact at least 2,000 people. Along with a reduction of the US workforce, Paramount is planning to shit down the Paramount Television Studio. The company aims to reduce its annual costs by $500 million USD before its upcoming merger with Skydance Media. The company generated $6.81 billion in total revenue in the second quarter, which was down 11 percent year over year.
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