Paramount Global has announced plans to reduce its U.S. workforce by an additional 3.5 percent, following a previous 15 percent reduction last year. Co-CEOs George Cheeks, Chris McCarthy, and Brian Robbins stated in a staff memo that the focus is on U.S. headcount, but there may also be impacts on the international workforce over time. The majority of affected employees will be notified this week.

By the end of 2024, Paramount Global had 18,600 employees worldwide. The decision to make these cuts is a response to industry-wide declines in linear TV and a changing economic landscape, as the company continues to invest in its streaming business. The executives expressed gratitude for the hard work and contributions of all employees, emphasizing that these changes are necessary for Paramount's future success.

These layoffs coincide with Paramount's pending acquisition by Skydance Media, awaiting FCC approval. The memo highlighted the company's appreciation for employees who have contributed to successful projects like Mission: Impossible – The Final Reckoning, MobLand, and the NCAA Tournament, as well as the growth in streaming content. Despite the challenges, the executives remain optimistic about Paramount's transformation and achievements.