Paramount International cuts 25% of workers in its home cable networks – Bloomberg Information Reuters |Up to date a day in the past |1 min learn (Reuters) -Media firm Paramount International, trying to scale back prices because it merges its Showtime and MTV networks, is letting go about 25% of the workers in its home cable networks, Bloomberg Information reported on Tuesday. Staff are being notified …

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(Reuters) -Media firm Paramount International, trying to scale back prices because it merges its Showtime and MTV networks, is letting go about 25% of the workers in its home cable networks, Bloomberg Information reported on Tuesday.

Staff are being notified Tuesday, based on the report.

Paramount is combining 9 separate groups into one and among the many items being shut down is MTV Information, Bloomberg Information reported.

Paramount, previously referred to as ViacomCBS, didn’t instantly reply to a Reuters’ request for remark.

(Reporting by Chavi Mehta and Aditya Samal in Bengaluru; Modifying by Shounak Dasgupta)