Paramount Global has announced an additional 3.5% reduction in its U.S. workforce, following a 15% cut last year. The decision reflects ongoing challenges in the media industry, including declines in linear viewership and macroeconomic pressures. The company remains focused on investing in its growing streaming business. Co-CEOs George Cheeks, Chris McCarthy, and Brian Robbins emphasized the necessity of these measures to position Paramount for future success. The cuts come as Paramount awaits FCC approval for Skydance Media’s acquisition. The memo to employees acknowledged the difficulty of the decision, expressing gratitude for the contributions of those affected.
— new from The Hollywood Reporter
