<ul data-eligibleForWebStory="true"><li>Paramount Global is reducing its US workforce by 3.5% after a prior 15% reduction last year.</li><li>The decision is driven by the slump in the cable-TV industry and economic uncertainty.</li><li>Co-CEOs of Paramount conveyed in a memo that the layoffs were necessary for long-term success.</li><li>Impacted employees of Paramount, which owns CBS, MTV, and Hollywood studios, are already receiving notifications.</li><li>Disney also recently laid off hundreds of employees due to financial pressures from dropping movie distribution and TV viewership.</li><li>Bob Iger's return as CEO has seen Disney focusing on cost-cutting measures.</li><li>Paramount is undergoing a merger with Skydance Media amidst a lawsuit involving CBS News and alleged interference in elections.</li></ul>

Paramount Global trims US workforce by 3.5%

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