Paramount is shutting down its TV studio as part of a new wave of layoffs

In the memo, Clemons and Cheeks insisted that while Paramount TV is coming to an end, “our ethos will live on in shows that will continue to be enjoyed by global audiences for years to come.” Last week, Paramount said that, in order to bring down its spending costs, it was preparing to slash its headcount by 15% across its marketing, comms, tech, and finance divisions. That plan was always meant to be rolled out in three phases, and today, Cheeks and fellow co-CEOS Chris McCarthy and…