Overview

• Paramount Global announced Tuesday that it will reduce its U.S. workforce by 3.5%, marking a continuation of layoffs after a 15% cut last year.
• Co-CEOs George Cheeks, Chris McCarthy and Brian Robbins cited industry-wide linear TV declines and a challenging macroeconomic environment as drivers for the latest downsizing.
• The company remains in a prolonged wait for Federal Communications Commission approval of its $8 billion merger with Skydance Media, which could face further delays under FCC Chair Brendan Carr.
• Paramount ended 2024 with 18,600 employees globally, and executives warned that international headcount may also face reductions over time.
• Leadership said the cuts will fund ongoing investments in Paramount’s rapidly growing streaming business, which continues to deliver record audiences.