Paramount Global announced another 3.5% reduction in its US workforce, following a 15% cut last year. Co-CEOs cited industry challenges and the need to prioritize streaming investments. The majority of affected employees were notified on Tuesday. These cuts, impacting primarily the US but potentially affecting international staff later, aim to streamline the organization and ensure future success, according to a staff memo. The move comes while awaiting FCC approval for a Skydance Media acquisition deal.

Prepared by Christopher Adams and reviewed by editorial team.