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Https Www Cnet Com Tech Services And Software Paramount Television Studios Is Permanently Shutting Down Due To Budget Cuts

Paramount Television Studios Set to Close Amid Budget Cuts

Production Facility to Cease Operations

Paramount Global Implements Layoffs to Save Funds

In a move to save 500 million annually, Paramount Global has announced the closure of Paramount Television Studios. The production facility, originally intended to revive Paramount Pictures, has been a major target of the company's two rounds of layoffs this year.

As part of a cost-cutting plan, Paramount is laying off 15% of its global workforce, approximately 2000 people. The layoffs began on Tuesday, August 13, with a significant number of them affecting the US workforce. Paramount Television Studios is expected to close as a result of these layoffs.

Cnet