MTV News shuts down amid Paramount layoffs.
TL;DR
Paramount is set to lay off 25% of its US staff, including employees from Showtime, MTV Entertainment Studios, and Paramount Media Networks groups. The decision comes after months of internal deliberations about integration amid Showtime's rebranding into Paramount+. MTV News will also be shutting down. The majority of the layoffs will be among the networks group due to consolidation. Despite Paramount's success in streaming, the company continues to feel pressure from broader economic headwinds.
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