Paramount Global to Lay Off 5,000 Employees

Paramount Global has announced plans to lay off approximately 5,000 employees as part of a major restructuring effort aimed at streamlining operations and reducing costs. The layoffs are set to take effect on January 15, 2025, as the company seeks to adapt to the evolving landscape of the streaming industry. This decision comes in the wake of significant financial challenges and a need to realign resources. The layoffs will impact various departments, although specific details on which divisions will be affected have not yet been disclosed. Paramount Global's leadership has indicated that these changes are necessary to ensure the company's long-term viability and competitiveness in the market.

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.