BUSINESS

Paramount Begins Layoffs as Ellison Shifts Strategy

Paramount began major layoffs Wednesday as CEO David Ellison moved to refocus spending on growth, telling staff in a memo that roughly 1,000 jobs would be cut this week. He said the company is eliminating redundancies and roles misaligned with new priorities to position Paramount for long-term success. Ellison, who took control in August, plans to invest alongside cost cuts, citing a $7.7 billion UFC rights deal and other agreements. His first earnings call as CEO is set for Nov. 10 to detail the company’s financial outlook and strategy.

Reviewed by JQJO team

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