Catherwood LibraryILR School

Hundreds of workers at Paramount Global will be affected by upcoming layoffs. Paramount Global announced the job cuts shortly after the Super Bowl was broadcast on the company’s CBS network. The layoffs come despite the company earning record profits from ratings and advertising revenue from the Super Bowl. Paramount Global’s CEO stated that the layoffs will put the company on a better path for earning growth. The layoffs will reduce company costs and increase the company’s revenue. The layoffs are projected to affect around 800 workers, and this will reduce the company’s total workforce by three percent. The cuts will affect Paramount Global Workers in various divisions, and the layoffs will affect workers in the United States and international staff. Affected workers include high-profile senior journalists at CBS, and the departure of the journalists follows the growing trend of cuts and layoffs in the US news and media industry.