Paramount Cuts More Jobs as Part of Planned Reductions

Paramount Global cut more jobs on Tuesday as part of a previously announced plan to reduce its US workforce by 15%, or about 2,000 positions.

The move is the second round of layoffs, and after today 90% of the planned cuts will be complete, co-chief executive officers George Cheeks, Chris McCarthy and Brian Robbins wrote in a memo to staff.

“Like the entire media industry, we are working to accelerate streaming profitability while at the same time adjusting to the evolving landscape in our traditional businesses,” they wrote in the memo, which was seen by Bloomberg.

The layoffs are ...