Paramount Global to Cut 800 Jobs Amid Strategic Shift

Paramount Global, the owner of CBS, announced plans to cut 800 jobs, representing about 3% of its global workforce, just days after the Super Bowl LVIII broadcast set a record for the most-watched TV program in history. The company's CEO, Bob Bakish, expressed gratitude for the departing employees' contributions and emphasized the decision's role in advancing the company's strategic vision. Paramount Global's recent focus on global hits and reduced emphasis on local originals reflects its intention to streamline operations. The company, which owns Paramount Pictures, various TV networks, and streaming platforms, had around 24,500 full-time and part-time employees across 37 countries and some 5,800 project-based staff at the end of 2022.

• Paramount Global, owner of CBS, to cut 800 jobs, about 3% of global workforce
• CEO Bob Bakish expressed gratitude for departing employees and emphasized strategic vision
• Company focusing on global hits and reducing emphasis on local originals
• Paramount Global had around 24,500 full-time and part-time employees and 5,800 project-based staff at the end of 2022