Archive · 11 Jun 2025
Paramount Global Cuts Jobs Amidst Challenges in Cable TV Industry
Paramount is cutting jobs due to less people watching TV the old way and economic problems.
They are laying off around 3.5% of their US staff, which follows similar cuts by Disney.
The traditional cable TV business is struggling as audiences move to streaming services.
Paramount, which owns CBS and MTV, previously made similar cuts in 2023.
These actions are to adapt to the changing media environment and improve the company's financial situation.
Paramount Global is laying off hundreds of US staff.
The layoffs affect approximately 3.5% of the company's US workforce.
The decision is due to the decline in the cable TV industry and economic issues.
The announcement was made on June 11, 2025.
This follows similar layoffs by Disney.
- Who
- Paramount Global is laying off employees.
- What
- Paramount is laying off approximately 3.5% of its US staff.
- When
- Layoffs were announced on June 11, 2025.
- Where
- United States
- Why
- To address challenges in the traditional cable TV industry and broader economic concerns.
- Affected Company
- Paramount Global
- Layoff Percentage
- 3.5%
- Reason for Layoffs
- Declining Cable TV, Economic Factors
- Impacted Area
- US Staff
- Similar Action
- Disney Layoffs
