Paramount Global said Tuesday that the entertainment and media company is cutting 3.5% of its workforce, citing challenges in the broader U.S. economy and in the linear television business.

It’s the latest round of layoffs at the media company — which owns the CBS broadcast network as well as cable channels, such as MTV and Nickelodeon — as it prepares to merge with movie studio Skydance Media.

In a memo sent Tuesday morning to employees from the company’s three co-CEOs — George Cheeks, Chris McCarthy and Brian Robbins — Paramount said the layoffs would affect U.S. workers, with “the majority of impacted staff being notified today.” Some employees outside the U.S. could later be impacted, according to the memo.

Paramount had about 18,600 full- and part-time workers in 32 countries at the end of 2024, according to a regulatory filing.