A proposed merger between Paramount and Skydance, which was agreed to on Monday, per CNBC, is in limbo until approval from Paramount majority shareholder Shari Redstone. But the company revealed on Tuesday that it has a plan should the deal not go through — and it’s not looking great for employees.
The plan, revealed Tuesday at Paramount’s annual shareholders meeting, includes cutting costs by roughly $500 million and removing “duplicative teams and functions across the organization, real estate, marketing, and other corporate overhead categories.”
After Paramount’s former CEO Bob Bakish
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