Kidscreen has learned that Paramount Global is tweaking its approach to work-related travel in light of the current economic landscape.

According to sources familiar with this shift, the company is now evaluating all travel on an ongoing basis to determine the best uses of its resources. But it’s important to note that Paramount still plans to maintain all essential business travel.

It’s a change that coincides with many other companies in the entertainment and consumer products industries strategizing for tariff-fueled challenges and headwinds that are expected to slow down growth.

This new policy at Paramount appears to have been announced internally quite recently, and it spans the company’s entire global workforce, which was estimated at roughly 18,600 as of last year. 

Coming out of Q2 2024, Paramount implemented a wave of layoffs targeting 15% of its US workforce (around 2,000 employees) as part of a cost-cutting strategy to achieve US$500 million in savings ahead of its anticipated merger with Skydance.

Paramount has been gearing up for this new ownership chapter for some time, and the US$8-billion merger deal is expected to close sometime this year. An automatic 90-day deadline extension was triggered earlier this month as the companies wait for approval from the Federal Communications Commission.

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