Media Conglomerate Announces Restructuring As Industry Reaches Inflection Point

Paramount Global to Lay Off 15% of U.S. Workforce

Media Conglomerate Announces Restructuring as Industry Reaches Inflection Point

Paramount Global, the storied media conglomerate, has announced plans to lay off 15% of its U.S. workforce, a move that will affect approximately 2,000 employees. The layoffs are part of a larger restructuring effort aimed at cutting costs and adapting to the evolving media landscape.

The company, which owns CBS, Nickelodeon, and Showtime, among other brands, said in a statement that the decision was made after careful consideration of the company's financial performance and the changing media landscape.

Key Points:

• Paramount Global to lay off 15% of its U.S. workforce.
• The layoffs will affect approximately 2,000 employees.
• The move is part of a larger restructuring effort aimed at cutting costs and adapting to the evolving media landscape.
• The layoffs are expected to be completed within the next few weeks.