Paramount Global to Lay Off 3.5% of US Workforce Due to Declining Pay-TV Subscriptions
SOURCENews reportView the filing ↗
What we know
Based on news reporting.
Summary
Paramount Global has announced plans to lay off 3.5% of its US workforce in response to a significant decline in pay-TV subscriptions. This decision reflects the company's ongoing challenges in the evolving media landscape, where traditional cable services are facing increasing competition from streaming platforms. While the exact number of employees affected has not been disclosed, the layoffs are part of a broader strategy to streamline operations and adapt to changing consumer preferences. The company aims to position itself more effectively in the market amidst these challenges.
LayoffTalk has tracked 36 layoff events at Paramount Global since October 2023, including 1,559 jobs documented in official WARN filings, with 25 additional events known from news reporting.
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