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6d ago

Paramount Global Cuts 3.5% of U.S. Workforce to Streamline Operations

Paramount’s co-CEOs say cuts will fuel its streaming push; the Skydance merger remains stalled by a lawsuit with President Donald Trump.

Overview

  • Paramount announced it will eliminate 3.5% of its U.S. staff, amounting to several hundred roles, in its latest cost-cutting round.
  • The co-CEOs attributed the reductions to sustained declines in traditional TV viewership and a challenging macroeconomic environment.
  • Job cuts will target finance, legal, technology and other support functions, with the possibility of further impacts on international employees.
  • This follows a 15% U.S. workforce reduction in August 2024, bringing global headcount to about 18,600 by year-end.
  • Paramount’s proposed $8.4 billion merger with Skydance Media has yet to close, reportedly delayed by a lawsuit involving President Donald Trump.