Catherine Herridge (Wikipedia)
Paramount Global, a firm owned by Shari Redstone’s National Amusements, is continuing to make layoffs. The latest round was at CBS News where even star reporter Catherine Herridge was not immune.
Catherine Herridge is an accomplished American journalist who has spent decades covering national security and intelligence issues. Prior to joining CBS, she was the chief intelligence correspondent for Fox News Channel (FNC) from 1996 to 2019. She has also reported for ABC News in London and hosted the Saturday edition of Weekend Live.
About 800 people at CBS lost their jobs.
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But their combined salaries did not match the $32 million paid to Paramount Global CEO Bob Bakish. And this makes people really angry at the network.
“Everybody in the newsroom is pissed that Bob Bakish is making over $30 million and he’s making these cuts,” one irate insider told the New York Post.
Bob Bakish tried to be nice to the people who lost their jobs in an internal memo saying, “To those with whom we are parting ways, we are incredibly grateful for your hard work and dedication. Your talents have helped us advance our mission of unleashing the power of content around the world.”
“While I realize these changes are in no way easy, as I said last month, I am confident this is the right decision for our future. These adjustments will help enable us to build on our momentum and execute our strategic vision for the year ahead – and I firmly believe we have much to be excited about,” he added.
Paramount Global is the company that runs Paramount Studios and its media empire. This includes Paramount Studios, the CBS television network, and many cable channels like MTV. Paramount has been struggling lately and there was talk of a possible merger with another firm.
In December there were reports that Shari Redstone was looking at a merger between Paramount and Warner Bros, which operates the Warner Bros movie studios and cable television networks like CNN and HBO.
