Paramount Global is laying off 3.5% of its United States staff in the latest round of job cuts as the company grapples with a decline in cable TV subscribers.
Paramount communicated the layoff to its staff on Tuesday morning.
The layoff will affect some non-U.S. workforce over time, the memo from the office of the company’s three co-CEOs showed.
This is in addition to the 15% cuts Paramount had announced last August and comes as the media industry navigates a “generational disruption” as millions of cable users cut the cord and opt for streaming services such as Netflix.
Trump deploys 700 Marines to Los Angeles, vows to intensify migrant raids
“We are taking the hard, but necessary steps to further streamline our organization starting this week,” Paramount Co-CEOs George Cheeks, Chris McCarthy, and Brian Robbins wrote in the memo.
Paramount had 18,600 employees as of December 31, 2024.
The company has pitched its $8.4 billion merger with billionaire scion David Ellison’s Skydance Media, Reuters reported.
But the deal is yet to secure regulatory approval, pending a $10 billion lawsuit U.S. President Donald Trump filed against CBS News in October over an interview with then-vice president Kamala Harris that he alleged was deceptively edited to favour Harris.
Troops of the 1 Brigade have arrested a suspected terrorist at the Government Science Secondary…
The Nigerian Air Force (NAF) has carried out a precision airstrike against suspected terrorist elements…
The Independent National Electoral Commission (INEC) has uploaded results from 2,058 of the 2,445 polling…
A pair of twin brothers have tied the knot with a pair of twin sisters…
Two journalists were on Saturday attacked by suspected hoodlums in Iyin-Ekiti during the governorship election…
The National Universities Commission (NUC) has approved six new full-time undergraduate programmes and additional postgraduate…
This website uses cookies.