Paramount to cut 3% of U.S. workforce as it deepens cost-cutting

Paramount Global is cutting its U.S.-based staff by 3.5%, or several hundred employees, in the latest round of layoffs at the media company as it contends with the decline of the traditional pay-TV bundle and macroeconomic headwinds.The company notified its staff of the impending layoffs on Tuesday morning, according to a memo viewed by CNBC. The memo, which came from the office of the CEO — George Cheeks, Chris McCarthy and Brian Robbins — said the majority of the impacted staff will be notified on Tuesday ...