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Paramount slashing 3.5% of US workforce

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Paramount Global is reducing its U.S. workforce by 3.5%.

That amounts to several hundred employees.

“We recognize how difficult this is and are very thankful for everyone’s hard work and contributions. These changes are necessary to address the environment we are operating in and best position Paramount for success," company executives said in a memo to employees.

Read more from CNBC.

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