After reducing its U.S. workforce by 15% in 2024, Paramount Global is laying off several hundred more employees. The cuts of 3.5% of domestic staffers will take effect today, according to a memo from Co-CEOs George Cheeks, Chris McCarthy and Brian Robbins that was obtained by Deadline. “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,” the execs wrote. While the new layoffs are targeting domestic workers, the Co-CEOs said they “may also result in some impacts to our workforce outside the U.S. over time.” The reductions are playing out as Paramount's $8 billion merger with Skydance Media remains in limbo due to slow-walking by the FCC and a lawsuit by President Trump against 60 Minutes and CBS News. >>>Single Phase Related: Paramount Global CFO Naveen Chopra Is Departing |