Paramount Global said it's cutting 3.5% of its workforce, citing challenges in the broader economy and in the linear television business.

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.

Paramount Global plans to cut several hundred employees on Tuesday due to a continuing decline in the cable-TV industry and the broader economic landscape.