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,

The job cuts are just the latest to hit the beleaguered media industry, which recently has seen staff reductions at Disney and Warner Bros. Discovery. Paramount Global is cutting 3.5% of its U.S. workforce as customers switch away from traditional pay-TV bundles in today’s shifting media landscape and uncertain economy.

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