Paramount global cuts 3.5% of U.S. workforce amid industry layoffs and merger plans
Shreeaa Rathi | TIMESOFINDIA.COM | Jun 10, 2025, 17:54 IST
( Image credit : TIL Creatives, TOIGLOBAL )
In a significant move affecting its workforce, Paramount Global has revealed plans to reduce its U.S. staff by 3.5%. This decision stems from ongoing challenges such as cord-cutting and broader economic pressures, compounded by an impending merger with Skydance Media. This isn’t the first time the company has had to make tough choices; similar layoffs were executed in August.
Paramount Global is reducing its U.S.-based workforce by 3.5%, impacting several hundred employees, as announced on Tuesday, due to cord-cutting, macroeconomic headwinds, and in preparation for a merger with Skydance Media; this decision follows previous job cuts and is part of a broader trend of layoffs in the media industry. The majority of the impacted staff were notified on Tuesday, according to a company memo. The layoffs are part of a go-forward plan presented last June that included job cuts and reduced spending.
Paramount is contending with the decline of the traditional pay-TV bundle and macroeconomic headwinds. The company is also preparing to merge with Skydance Media.
The memo, viewed by CNBC, came from the office of the CEO — George Cheeks, Chris McCarthy and Brian Robbins.
The layoffs have been taking place across the media industry in recent weeks. Headcount reductions have been reported at Disney and Warner Bros. Discovery.
In August, Paramount began the process of reducing its U.S.-based workforce by 15%.
Paramount employed roughly 18,600 full- and part-time employees globally as of December, before recent cuts, according to the regulatory filing.
The process may also result in some impacts to the workforce outside of the U.S. over time.
\"We recognize how difficult this is and are very thankful for everyone's hard work and contributions. These changes are necessary to address the environment we are operating in and best position Paramount for success,\" the CEOs said in the memo.
Paramount is contending with the decline of the traditional pay-TV bundle and macroeconomic headwinds. The company is also preparing to merge with Skydance Media.
The memo, viewed by CNBC, came from the office of the CEO — George Cheeks, Chris McCarthy and Brian Robbins.
The layoffs have been taking place across the media industry in recent weeks. Headcount reductions have been reported at Disney and Warner Bros. Discovery.
In August, Paramount began the process of reducing its U.S.-based workforce by 15%.
Paramount employed roughly 18,600 full- and part-time employees globally as of December, before recent cuts, according to the regulatory filing.
The process may also result in some impacts to the workforce outside of the U.S. over time.
\"We recognize how difficult this is and are very thankful for everyone's hard work and contributions. These changes are necessary to address the environment we are operating in and best position Paramount for success,\" the CEOs said in the memo.