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Paramount Co-CEO Chris McCarthy Confirms Company Cutting 15% Of U.S.-Based Workforce

Paramount Global Co-CEO Chris McCarthy revealed during an earnings call that the media company plans to cut its U.S.-based workforce by about 15%.

Prior to McCarthy’s comments, Paramount released a second-quarter earnings report with some upbeat aspects but also a glaring statistic: $5.98 billion. The cuts had first been signaled officially in June, when McCarthy and the two other execs in Paramount’s Office of the CEO, George Cheeks and Brian Robbins, announced they had identified $500 million in annualized cost savings. Barring any late-arriving offers during a “go-shop” period included in the Skydance agreement (which ends a minute before midnight on August 21), the David Ellison-run company will enter a regulatory review process.

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