Paramount Global is cutting 3.5% of its U.S. workforce, with the company citing linear TV declines and a "dynamic macro-environment" for the layoffs

(Reuters) -Paramount Global is laying off 3.5% of its U.S. staff in the latest round of job cuts as the company grapples with a decline in cable TV subscribers, according to an internal memo seen by Reuters.

Paramount Global is making another cut into its U.S. workforce by 3.5% in the next round of layoffs. Most of the impacted staff will be notified on Tuesday, according to a memo that came from the offices of the co-CEOs.