April 15, 2024

Regardless of these eye-popping Tremendous Bowl rankings, Paramount International has introduced layoffs.

The corporate, which owns TV networks like CBS, Nickelodeon, MTV and Comedy Central, is shedding 800 staff — that’s 3% of its workforce. 

Like different media retailers, Paramount is struggling to regulate to the digital age as the corporate’s streaming service, Paramount Plus, misplaced a reported $1 billion final 12 months.

In a memo addressed to the corporate’s workers members and obtained by the New York Occasions, CEO Bob Bakish wrote, “Whereas I notice these modifications are by no means simple, as I mentioned final month, I’m assured that is the correct choice for our future … These changes will assist allow us to construct on our momentum and execute our strategic imaginative and prescient for the 12 months forward — and I firmly consider we have now a lot to be enthusiastic about.”

The information comes as Paramount launched metrics on Monday stating a record-breaking viewership for Tremendous Bowl LVIII, with a median of 123.4 million folks tuning in throughout varied platforms, together with CBS, Paramount Plus, Nickelodeon, Univision, CBS Sports activities, and digital channels like NFL+, with CBS acquiring the most important viewership for a single community at 120 million.

In response to CNBC, the media firm had already warned staff of the layoffs in a Jan. 25 memo. 

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