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Paramount Makes More Layoffs: Several Hundred Employees Axed, Representing 3.5% of U.S. Workforce
Paramount Global is cutting 3.5% of its U.S. workforce, with the company citing linear TV declines and a "dynamic macro-environment" for the layoffs
Through last summer and fall, Paramount made layoffs and implemented restructuring aimed at cutting 15% of its domestic headcount, affecting about 2,000 employees. “We will be reducing our domestic workforce by 3.5%, with the majority of impacted staff being notified today,” Cheeks, McCarthy and Robbins wrote in the memo. As we navigate the continued industry-wide linear declines and dynamic macro-economic environment, while prioritizing investments in our growing streaming business, we are taking the hard, but necessary steps to further streamline our organization starting this week.
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