Paramount Global Class B Aktie News

The move follows a 15% reduction last year as part of a $500 million cost cutting plan. The company ended 2024 with 18,600 employees worldwide.

Paramount Global (NASDAQ:PARA) said on Tuesday it will reduce its US workforce by approximately 3.5%, cutting several hundred jobs as the media giant continues to adjust to ongoing disruptions in the industry, including cord-cutting trends. The latest layoffs follow a more substantial 15% reduction across the company's workforce last year.

Paramount is cutting 3.5% of its US workforce amid linear TV declines. The layoffs follow similar moves by Disney and Warner Bros.

Paramount Global is laying off 3.5% of its U.S. staff in the latest round of job cuts as the company grapples with a decline in cable TV subscribers, according to an internal memo seen by Reuters.

Paramount Global told employees it would be reducing its workforce by 3.5% and that the majority of the impacted staff would be alerted on Tuesday. It's the latest round of layoffs at the media company as it contends with cord-cutting and prepares to merge with Skydance Media.

Paramount Global said its chief financial officer Naveen Chopra is departing “to pursue other opportunities” as the company still awaits FCC approval for the merger with Skydance it announced almost a year ago.

NEW YORK , June 9, 2025 /PRNewswire/ -- Paramount Global (NASDAQ: PARA, PARAA), today announced that Naveen Chopra, Executive Vice President and Chief Financial Officer, is departing to pursue other opportunities. Andrew Warren, currently Strategic Advisor to the Office of the CEO and former Chief Financial Officer of Discovery Communications, will assume the additional role of Executive Vice P...

Paramount Global chair Shari Redstone was diagnosed with thyroid cancer earlier this spring, a spokesperson for Redstone said in a statement to Reuters on Thursday.