Paramount Shutters MTV News, Chopping 25% Of Job Across All Divisions

Paramount Media Networks has decided to shut down MTV News along with some other units.

All told, the company is laying off 25% of employees at Showtime, MTV Entertainment Studios and Paramount Media Network Groups in the U.S.

“We continue to feel pressure from broader economic headwinds like many of our peers,” said Paramount Media Networks president Chris McCarthy. He added that “senior leaders in coordination with HR have been working together over the past few months to determine the optimal organization for the current and future needs of our business.”

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