-Paramount Global is laying off about 800 employees, or roughly 3% of its workforce, CNBC reported on Tuesday, citing a person familiar with the matter.
The affected workers will be notified Tuesday, the report quoted Chief Executive Officer Bob Bakish as saying in an internal memo to employees.
“These adjustments will help enable us to build on our momentum and execute our strategic vision for the year ahead – and I firmly believe we have much to be excited about,” Bakish wrote in the note, CNBC reported.
Bakish had said in January the company would let go of an unspecified number of employees.
Paramount Global did not immediately respond to a Reuters request for comment.
The company had about 24,500 full- and part-time employees in 37 countries and about 5,800 project-based staff on its payroll as of Dec. 31, 2022, according to a regulatory filing.