CALIFORNIA – Paramount Global notified the California Employment Development Department (EDD) that it would be laying off 109 employees in Los Angeles, effective August 9.
The layoffs affect staff at the company’s Melrose Avenue and Gower Street locations.
They were disclosed through a Worker Adjustment and Retraining Notification (WARN), a state requirement that gives employees advance notice of mass layoffs to allow time to adjust.
The cuts are part of a larger restructuring at Paramount Global, which is laying off approximately 3.5% of its U.S. workforce, amounting to several hundred employees nationwide.
The media company cited declining cable television revenues and ongoing shifts in the entertainment landscape as key factors behind the decision.
Paramount shifts strategy toward streaming and digital platforms
In a June company-wide memo, Paramount’s three CEOs George Cheeks, Chris McCarthy, and Brian Robbins stated that the company is taking “hard, but necessary steps to further streamline” its organization.
“We will be reducing our domestic workforce by 3.5%, with the majority of impacted staff being notified today. This process may also result in some impacts to our workforce outside the U.S. over time,” they wrote.
In addition to workforce reductions, Paramount is realigning its strategy to focus more heavily on streaming and digital platforms amid an anticipated merger with Skydance Media.
These layoffs follow broader cuts in 2024, when the company eliminated roughly 15% of its worldwide workforce as part of ongoing cost-cutting efforts.
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