Paramount Global Announces 2,000 Job Cuts Amid Media Industry Challenges

Paramount Global announces significant job cuts, eliminating 2,000 positions as part of a strategy to streamline operations amid the challenges of the media industry. This marks a 15% reduction in its U.S. workforce, part of a three-phase layoff plan aimed at adapting to the evolving streaming landscape. The company seeks to enhance its market position through strategic partnerships and innovative leadership, ensuring long-term sustainability in a competitive environment.