Paramount cuts 3.5% jobs in the U.S.

June 10, 2025 05:21 AM PDT | By EODHD

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Paramount cuts 3.5% jobs in the U.S. — Image source: Kalkine Media

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[Paramount Studios Water Tower] mixmotive/iStock Editorial via Getty Images Paramount Global (NASDAQ:PARA [https://seekingalpha.com/symbol/PARA]) (NASDAQ:PARAA [https://seekingalpha.com/symbol/PARAA]) said Tuesday it is cutting jobs by 3.5% as it navigates a tough macroeconomic backdrop and bears the brunt of shrinking linear TV viewership in the U.S. The move adds on to the 15% headcount trim it executed last year, where it notably shuttered Paramount Television Studios after 11 years of operation. The company had then said it expected to save $500M from the cuts and shutdown. The news also comes a day after finance chief Naveen Chopra stepped down from the company to accept the same job at Roblox (RBLX [https://seekingalpha.com/symbol/RBLX]). By the end of 2024, Paramount had 18,600 employees, and according to calculations by Seeking Alpha, the latest job cut announcement is expected to impact more than 600 employees.

A memo sent to employees by co-CEOs George Cheeks, Chris McCarthy, and Brian Robbins said the workforce reductions will start on Tuesday, affecting domestic employees, and “may also result in some impacts to our workforce outside the U.S. over time.” “As we navigate the continued industry-wide linear declines and dynamic macroeconomic environment while prioritizing investments in our growing streaming business, we are taking the hard but necessary steps to further streamline our organization starting this we_e_k,” the memo said. Earlier this month, Disney (DIS [https://seekingalpha.com/symbol/DIS]) laid off "several hundred" employees globally, the majority of whom were in the Disney Entertainment unit, and Warner Bros. Discovery (WBD [https://seekingalpha.com/symbol/WBD]) targeted selectively and laid off less than 100 employees in its linear TV business. MORE ON PARAMOUNT GLOBAL * Paramount: Nice Q1 Beat Yet To Stir Mr.

Market; Skydance Deal Still Seen As Question Mark [https://seekingalpha.com/article/4785352-paramount-q1-beat-yet-to-stir-market-skydance-deal-question-mark] * Paramount Global: Earnings Prove This Play Still Has Legs [https://seekingalpha.com/article/4784757-paramount-global-earnings-prove-this-play-still-has-legs] * Paramount Global (PARA) Q1 2025 Earnings Call Transcript [https://seekingalpha.com/article/4784027-paramount-global-para-q1-2025-earnings-call-transcript] * Paramount CFO steps down to take same position at Roblox [https://seekingalpha.com/news/4456678-paramount-cfo-steps-down-to-take-same-position-at-roblox] * ‘Lilo & Stitch’ leads quiet weekend as box office slows into summer [https://seekingalpha.com/news/4456393-lilo-and-stitch-leads-quiet-weekend-as-box-office-slows-into-summer]

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