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(Reuters) -Paramount Global is laying off about 800 employees or roughly 3% of its workforce, a person familiar with the matter said on Tuesday, as the media company looks to cut costs and return to earnings growth this year. The affected workers who are based in the United States will be notified Tuesday, CEO Bob Bakish said in a memo to employees seen by Reuters, adding that the layoffs will also impact some of its employees in offices outside the U.S. The media industry has been grappling with the changing landscape of streaming gaining dominance over traditional television and the impact from the Hollywood strikes last year.

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