By Natalia Rueda 
The Super Bowl is a highly anticipated event not only for soccer fans, but also for media companies who see it as a great opportunity for advertising and revenue. For Paramount Global, this year’s Super Bowl was no different, with a record 123.4 million viewers tuning in to watch the big game. However, the company’s recent announcement of 800 job cuts has left many employees feeling surprised and uncertain about their future.
In an internal memo sent by CEO Bob Bakish, employees were informed of the company’s plans to eliminate jobs across all divisions, including CBS, Paramount Pictures, Paramount+ and more. This news comes just a day after the company bragged about its success during the Super Bowl, with record ratings and the highest cost for a commercial spot in history at $6.5 million.
The decision to downsize has come as a shock to many, especially considering the impressive numbers from the super event. It raises questions about the company’s financial stability and its plans for the future. However, Bakish remains confident that these changes are necessary to align with the company’s strategic vision and continue its success.
However, this news also comes amid a trend of job cuts in the technology industry. Many major technology companies have already announced significant layoffs in the first weeks of 2024. The reasons behind these decisions vary, from corporate restructuring to the impact of the ongoing pandemic. However, it is a reminder that even in successful times, companies must make tough decisions for the long-term sustainability of their businesses.
With information from EFE