Paramount to cut 3% of US workforce as it deepens cost-cutting

Posted Tuesday, June 10, 2025 11:22 am

Lillian Rizzo | CNBC

Paramount Global is cutting its U.S.-based staff by 3.5%, or several hundred employees, in the latest round of layoffs at the media company as it contends with the decline of the traditional pay-TV bundle and macroeconomic headwinds.

The company notified its staff of the impending layoffs on Tuesday morning, according to a memo viewed by CNBC. The memo, which came from the office of the CEO — George Cheeks, Chris McCarthy and Brian Robbins — said the majority of the impacted staff will be notified on Tuesday.

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Paramount to cut 3% of US workforce as it deepens cost-cutting

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