Paramount Global CEO Bob Bakish said Thursday that the company will continue to reduce its global workforce “to operate as a leaner company and spend less.” But there were no further details in a memo to staff obtained by Deadline following a “Bob Live” town hall this morning.The company has three main strategic goals going forward: maximizing content, driving streaming profitability, and “further unlocking the power of ONE PARAMOUNT.”“As it has over the past few years, this does mean we will continue to reduce our workforce globally,” the memo read. “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. “We’re spending weeks trying to focus on our work with all of this hanging over our heads,” one staffer said.Deadline reported last weekend that cuts at Paramount were set to impact hundreds of employees across the company. The WSJ in December had pegged the layoffs at about 1,000, leading to a pretty brutal period of waiting for staffers which is ongoing. Deadline heard senior executives had been given reduction targets to hit to cut costs.There’s been a wave of layoffs across media, entertainment and big tech over the past month. Microsoft said earlier today it’s cutting 1,900 jobs at its game division to reduce overlap after acquiring Activision Blizzard.Bakish’s memo only touched briefly on M&A as speculation swirls around Paramount with interest, and a reported offer, from David Ellison’s Skydance to acquire Shari Redstone’s stake in National Amusements – her family holding company that controls Paramount Global. Apollo is also said to be interested.“Amid all this change, it’s no surprise that Paramount remains a topic of speculation. We’re 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,” Bakish wrote. Asked by about deal chatter by a staffer directly during his live appearance, Bakish acknowledged rival companies were “kicking tires,” which he called “a testament to the great work” done by the Paramount Global team.” 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. He answered the employee by saying that, “In this business, we have to look at all costs,” without getting into specifics. WSJ in December had pegged the layoffs at about 1,000, leading to a pretty brutal period of waiting for staffers which is ongoing. Deadline heard senior executives had been given reduction targets to hit to cut costs.
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