The owner of CBS, Paramount Global, is making headlines after announcing the layoff of 800 employees, just two days following the broadcast of Super Bowl LVIII, which became the most-watched TV program in history. The media giant plans to reduce its global workforce by about 3%, a move that was communicated to the staff on Tuesday.

Bob Bakish, the CEO of Paramount Global, conveyed the decision in an internal memo, expressing gratitude for the hard work and dedication of the departing employees. He emphasized that the changes are aimed at enabling the company to build on its momentum and execute its strategic vision for the year ahead.

Paramount Global, which owns the Paramount Pictures movie studio, TV networks such as Comedy Central, MTV, Nickelodeon, and Britain’s Channel 5, as well as the Paramount+ and Pluto streaming platforms, did not provide a comment on the job cuts. The company’s focus on its biggest global hits and less on local originals has been evident in its recent strategy.

With approximately 24,500 full-time and part-time employees across 37 countries and some 5,800 project-based staff on its payroll at the end of 2022, the reduction in workforce reflects a shift in the company’s approach. This move comes in the wake of the most-watched TV program in history, marking a significant development in the media industry.

As the industry continues to evolve, Paramount Global’s decision to streamline its workforce raises questions about the future direction of the company and the broader media landscape. With the company’s notable presence in film and television, the impact of these job cuts and the strategic shift towards global hits will be closely monitored in the coming months.