Reported 3 days ago
Paramount Global is set to lay off 3.5% of its U.S. staff according to an internal memo, as the company struggles with a decline in cable TV subscribers. This round of cuts follows a previous reduction of 15% announced last August and reflects the ongoing challenges in the media industry, with many consumers shifting to streaming services. The layoffs were communicated to employees on Tuesday and may eventually affect some international staff as well.
Source: YAHOO