• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Editor's Pick Paramount Global lays off about 800 employees, a day after announcing record Super Bowl ratings
Editor's Pick

Paramount Global lays off about 800 employees, a day after announcing record Super Bowl ratings

by February 15, 2024
by February 15, 2024 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Paramount Global is laying off hundreds of employees, just one day after the company announced CBS had record Super Bowl viewership, Chief Executive Officer Bob Bakish said Tuesday in an internal memo to employees.

Paramount will lay off about 800 people, or an estimated 3% of its workforce, according to a person familiar with the matter. Paramount Global ended 2022 with about 24,500 full-time and part-time employees.

Affected workers will be notified Tuesday, Bakish said in the note.

“These adjustments will help enable us to build on our momentum and execute our strategic vision for the year ahead — and I firmly believe we have much to be excited about,” Bakish wrote in the note.

Paramount shares fell about 4% in morning trading Tuesday.

Deadline first reported the number of cuts in January.

Paramount Global owns a variety of assets including CBS, Paramount Pictures, Pluto TV, Paramount+ and cable networks including Nickelodeon, BET and Comedy Central. The job cuts come as the media company considers merger and acquisition options. Paramount Global has held early merger talks with Skydance Media and Warner Bros. Discovery in recent months, CNBC has previously reported.

The media company had warned employees of impending cuts in a Jan. 25 internal memo. Bakish said at the time that Paramount Global needs to “operate as a leaner company and spend less.”

Its Paramount+ streaming service continues to lose money each quarter. The platform lost $238 million in the third quarter. The company reports fourth-quarter earnings Feb. 28.

Super Bowl 58 on CBS was the most-watched television show in history, with an estimated 123.4 million people having watched across all platforms.

CBS charged a record high average $6.5 million for every 30-second advertisement for the Super Bowl, according to the research company Guideline.

The network earned tens of millions in additional revenue because the game between the Kansas City Chiefs and the San Francisco 49ers went into overtime.

This post appeared first on NBC NEWS
You Might Also Like
  • Delta cancels hundreds more flights as DOT opens probe
  • Fewer homeowners are remodeling, but demand is still ‘solid’
  • T-Mobile sued after employee stole nude images from customer phone during trade-in
  • Trump could scale back Canada, Mexico tariffs Wednesday, Lutnick says
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Russian nuclear capabilities in space could threaten international satellites, US military comms: Sources
next post
Paramount Global lays off about 800 employees, a day after announcing record Super Bowl ratings

You may also like

Two plead guilty to insider trading related to Trump Media...

April 4, 2024

Social Security COLA increase for 2024 could be higher than...

September 14, 2023

Consumer protection board sues Walmart and fintech firm over gig-worker...

December 24, 2024

Federal judge overturns $4.7 billion jury verdict in ‘Sunday Ticket’...

August 2, 2024

Home Depot says the worst of inflation is over —...

November 15, 2023

More than 28% of Americans are searching for new jobs...

August 22, 2024

Plummeting stock, boycotts and flagging sales: What’s fueling turmoil for Tesla?

March 17, 2025

New sports bundle could give cord-cutting fans their biggest single...

February 8, 2024

Russian oligarch’s yacht costs U.S. taxpayers close to $1 million...

March 7, 2024

CEOs at Trump meeting say he was ‘meandering’ and ‘doesn’t...

June 17, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • OpenAI to release web browser in challenge to Google Chrome

      July 10, 2025
    • Sports executive charged with bid-rigging in Texas arena project

      July 10, 2025
    • How I Triple My Returns With 3x Leveraged ETFs!

      July 10, 2025
    • Want Faster, Lower Risk Trades? Use This Setup

      July 9, 2025
    • The Seasonality Trend Driving XLK and XLI to New Highs

      July 9, 2025

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 3,631 views
    • 2

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,919 views
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,607 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,576 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,449 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,169)
    • Investing (538)
    • Stock (2,661)

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 2

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • OpenAI to release web browser in challenge to Google Chrome

      July 10, 2025
    • Sports executive charged with bid-rigging in Texas arena project

      July 10, 2025
    • How I Triple My Returns With 3x Leveraged ETFs!

      July 10, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,169)
    • Investing (538)
    • Stock (2,661)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    As EV sales growth slows, some...

    January 17, 2024

    Rare Michael Jordan, Kobe Bryant rookie...

    March 7, 2025

    College seniors are graduating into a...

    May 6, 2023
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here