Oct 15 (Reuters) - Paramount Global's ( PARAA ) board has

approved awarding the previously declared annual bonus payments

for its three co-CEOs even if they are no longer at the helm,

according to a filing on Tuesday.

Co-CEOs George Cheeks, Chris McCarthy and Brian Robbins

would receive an additional 100% of their base salary, along

with restricted share units valued at $3 million each.

These three Paramount executives were appointed as co-CEOs

on April 29, succeeding Bob Bakish, who left the position due to

disagreements with the company's controlling shareholder, Shari

Redstone.

The bonus arrangements will apply only to the portion of the

current fiscal year after their appointment as co-CEOs and would

also determine any future severance payments, the company said.

The change in compensation comes at a time when Paramount is

aiming to reduce annual costs by $500 million ahead of its

merger with Skydance Media.

As part of these cost-cutting measures, Paramount started

job cuts in August and plans to lay off 15% of its U.S.-based

workforce in three phases by the end of the year."