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Paramount Global is laying off 3.5% of its US workforce in the latest round of cuts as the media giant struggles with steep declines in cable TV subscribers, the company said Monday.

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 Paramount as it contends with cord-cutting and prepares to merge with Skydance Media.

JPMorgan maintains an Underweight rating for Paramount; analysts lowered price target to $10. Short-term decline expected due to DTC losses.

Thankfully, Paramount Plus is a relatively affordable service that won't overwhelm you with too many tier picks, although there are differences worth mentioning.