Paramount Global said Tuesday that the entertainment and media company is cutting 3.5% of its workforce, citing challenges in the broader U.S. economy and in the linear television business.

Paramount Global CEO Bob Bakish on Thursday said the media company would undergo layoffs as it strives to become a leaner company that spends less.. Bakish said the entertainment industry has been ...

Paramount Global will cut 15% of its U.S. workforce in the next few weeks — a round of layoffs that will affect about 2,000 employees — coming ahead of its planned merger with Skydance Media ...

The layoffs were announced in a memo penned by Paramount’s three co-CEOs, including CBS CEO George Cheeks, and are part of a $500 million cost reduction effort ahead of Paramount’s merger with ...

Paramount Global has initiated the next phase of its plan to lay off 15% of its U.S. workforce, saying the cuts will be 90% complete after today. Paramount Initiates Layoffs In Effort To Cut 15% ...

Paramount’s cost-cutting plan, especially the layoffs, aims to create $500 million in annual savings in the near term — and that’s “just the beginning,” Cheeks said.

Paramount said in August that it would cut 15% of its U.S. workforce — layoffs that were estimated to affect about 2,000 employees — coming ahead of its planned merger with Skydance Media.

Paramount’s last round of layoffs took place in February when CEO Bob Bakish was still in charge and about 800 staffers were let go. Bakish himself was shown the door two months later.

Cuts at Paramount come after CBS, owned by Paramount Global, saw record-breaking advertising and sales for Super Bowl LVIII's 120 million viewers. ... See more 2024 media layoffs.