Paramount Global is reducing its U.S.-based staff by 3.5% as part of ongoing layoffs due to challenges in the media industry. The majority of affected employees will be notified on Tuesday, with potential impacts to the global workforce over time. The company is also seeking regulatory approval for a merger with Skydance Media. The layoffs follow a go-forward plan presented by the CEOs last June, which included job cuts and reduced spending. Layoffs have been a trend in the media industry, with Disney and Warner Bros. Discovery also making staff reductions.