08:45 AM EDT, 06/10/2025 (MT Newswires) -- Paramount Global ( PARAA ) is laying off 3.5% of its US staff as part of efforts to streamline operations, multiple media reports said Tuesday, citing a company memo sent to employees.

"As we navigate the continued industry-wide linear declines and dynamic macro-economic environment, while prioritizing investments in our growing streaming business, we are taking the bard, but necessary steps to further streamline our organization starting this week," co-Chief Executive Officers George Cheeks, Chris McCarthy and Brian Robbins said in the memo shared by online news publication Variety.

The co-CEOs said most affected employees were notified on Tuesday, with possible international job reductions likely to be implemented in the future, according to the reported memo.

Paramount did not immediately respond to a request for comment from MT Newswires.