LOS ANGELES, Aug. 13 (Xinhua) -- Media and entertainment conglomerate Paramount Global will begin cutting 15 percent of its total U.S.-based workforce starting Tuesday, the company's leadership said in a memo to employees.
"The industry continues to evolve, and Paramount is at an inflection point where changes must be made to strengthen our business," Paramount's three co-chief executive officers said in the memo, adding that "while these actions are often difficult, we are confident in our direction forward."
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