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The company informed its staff of the layoffs on Tuesday morning, June 10 indicating that most affected employees would receive notification during the day, according to Deadline, which obtained a copy of a memo from CEOs George Cheeks, Chris McCarthy, and Brian Robbins.
The move comes after the company cut about 15 percent of its employees in 2024 and amid ongoing challenges posed by the decline of traditional pay-TV subscriptions and broader economic pressures.
Additionally, Paramount is pursuing regulatory approval for its proposed merger with Skydance Media.
Company leadership cautioned that further global workforce impacts may occur over time as the restructuring progresses.
Paramount Global, formerly ViacomCBS, has a current workforce of around 18,600.
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