Paramount Global cuts 800 jobs – Kommersant

According to American mass media, media corporation Paramount Global will soon announce the reduction of 800 jobs, which is about 3% of its total workforce. mass media emphasizethat this became known a day after the broadcast of the American Football Super Bowl final by CBS (part of Paramount Global) attracted a record number of viewers.

Experts believe that the media corporation has to take these measures in an attempt to reduce costs in the face of an outflow of viewers from traditional cable and satellite TV to streaming services. At the same time, Paramount Global’s own streaming service, Paramount+, is suffering losses. And movie theater attendance in the United States has still not reached pre-pandemic levels, which has a negative impact on the profitability of film companies that are part of Paramount Global.

Evgeny Khvostik