Cable TV Crumbles: Paramount to Lay Off 3.5% of US Staff

3.5% of Paramount Global's employees in the US will be let go, the company revealed. According to a media report, the information was distributed to staff members via an internal memo on 10 June.

The company's efforts to address declining cable TV viewing as more people choose streaming services like Netflix include the job losses. This is not Paramount's first round of layoffs.

The company had already reduced 15% of its employment in August of last year, demonstrating continuous modifications in reaction to market shifts.

 In the message, Paramount's co-CEOs, George Cheeks, Chris McCarthy, and Brian Robbins, stated that the firm is starting this week to further streamline its organisational structure, describing the move as a difficult but necessary one.

New Business Strategies of Paramount

As cable TV experiences a generational disruption, the most recent layoffs are a part of a larger trend. The memo made suggestions about possible future effects on foreign employees as the organisation attempts to manage these difficulties.

As of the end of 2024, Paramount employed 18,600 people. The most recent action was taken as the business attempted to proceed with a significant $8.4 billion merger with billionaire David Ellison's Skydance Media.

Nevertheless, regulators have yet to approve that purchase. Because the traditional cable model is changing so quickly, Paramount's strategy changes reflect a broader industry trend towards digital platforms.

The organisation is attempting to better align its resources in order to maintain its position in this evolving climate. This process entails tough choices, like the recent layoffs, which are a part of larger initiatives to optimise the organisation in the face of changing market demands.

Layoffs have Become a Common Scenario in 2025

With big companies like Google, Microsoft, and others continuing to reduce their workforces, layoffs in the tech sector are not expected to halt in 2025.

Companies are still cutting employees in an effort to simplify operations, save money, and emphasise automation and artificial intelligence, even though these figures are much lower than the major layoffs that occurred between 2022 and 2023.

Layoffs.fyi, a website that tracks layoffs in the industry, reports that 93 organisations have laid off nearly 23,500 tech workers so far this year, and the number is still growing.

Google and Microsoft are apparently contemplating a new round of layoffs, according to the most recent job reduction reports. According to reports, AI-led restructuring and performance-based terminations are part of the corporations' goals to increase the effectiveness of their personnel.