These decisions are never easy, but are essential on our path to earnings growth.
A couple of Par Global employees Deadline spoke with today emphasized how drawn-out this whole thing has been.
Watch on Deadline
Read the full memo below.
Paramount Pictures in Los AngelesGetty
Deadline reported last weekend that cuts at Paramount were set to impact hundredsof employees across the company.
Deadline heard senior executives had been given reduction targets to hit to cut costs.
Apollo is also said to be interested.
Amid all this change, its no surprise that Paramount remains a topic of speculation.
Were a storied public company in a closely followed industry.
The CEO said the conglom will look at all options.
Bakish was also asked about layoffs during the Town Hall, according to someone on the video meet.
Below is the full memo.
And we have certainly faced a few.
Were a storied public company in a closely followed industry.
But I have always believed the best thing we can do is concentrate on what we can control execution.
Leaning into whats working, while continually adjusting to current realities.So what does that mean for us in 2024?
Our priority is to drive earnings growth.
More specifically, we have three key strategies to achieve this:1.
Maximizing CONTENT with the biggest impact.
When it comes to mass, popular content, weve always punched above our weight.
Driving to STREAMING profitability.
Weve learned a lot since we launched Paramount+ nearly three years ago.
Further unlocking the power of ONE PARAMOUNT.
These decisions are never easy, but are essential on our path to earnings growth.
Theres more information there and even more to come.
Expect to hear updates on our progress against this strategy throughout the year.
