Paramount Global plans to eliminate about 1,000 positions this week as part of a sweeping effort to streamline operations and reduce costs amid ongoing industry challenges.
The job cuts are expected to affect multiple divisions across the company, including television, film, and streaming operations. Sources familiar with the decision said the layoffs come as Paramount seeks to strengthen its balance sheet and refocus on core business areas following several quarters of financial pressure.
The entertainment giant has faced mounting competition from digital rivals and the shifting economic landscape of streaming media. Executives say the restructuring aims to improve efficiency, accelerate profitability, and position the company for long-term growth.
Paramount recently completed its merger talks with potential partners and announced strategic changes to its content strategy. Employees impacted by the layoffs are expected to be notified by the end of the week, with severance and transition support offered as part of the process.
