Paramount Layoffs, Trump Suit Complicate Skydance Merger

Paramount Global has announced it will lay off 3.5% of its U.S. workforce, affecting several hundred employees, as it seeks to navigate declines in traditional television and broader economic pressures. This move follows a 15% workforce reduction in the previous year and is aimed at streamlining operations and prioritizing investment in Paramount+, the company’s streaming service. While the current layoffs are focused on U.S. employees, company leadership indicated that international staff may be impacted in the future. The layoffs coincide with Paramount's ongoing efforts to secure regulatory approval for a proposed merger with Skydance Media. The merger process has been complicated by a lawsuit from former President Donald Trump and regulatory delays at the FCC. As of the end of 2024, Paramount employed about 18,600 people globally.