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CBS Correspondent Catherine Herridge lost her job at Paramount Global after the company laid off around 800 employees. The news comes at a time when the company is planning to cut its expenses and the same was revealed by CEO Bob Bakish on February 13, 2024.
Catherine Herridge is additionally known for her work at Fox News and ABC News over the years and has covered multiple important events. The 59-year-old's net worth is said to be around $10 million, as per Investor Times.
CBS News has not made any official statement regarding the layoffs but a majority of the workers are from the United States. Bakish shared a memo on the layoffs, saying that it would contribute to planning what is next and the things that they need to be excited about.
Super Bowl LVIII was aired on CBS and other associated platforms a day before the layoffs were announced by Bakish. According to Deadline, the event held the record of the highest viewership of all time and it witnessed a rise of around 7% compared to 2023 when the event aired on Fox.
Catherine Herridge has accumulated a lot of wealth from her career: Earnings explored in detail
Catherine Herridge is famous for her successful career as a journalist over the years. She has been involved with various outlets which have contributed to her wealth and as mentioned earlier, her net worth is estimated to be $10 million.
She completed her graduation at Harvard College and the Columbia School of Journalism, as per Penguin Random House. Her family has a military background and she started her career at ABC News as a correspondent for London.
Catherine Herridge gained recognition for her work with CBS News for the last five years. She has covered many events and is a recipient of multiple accolades. Her bio on the official website of CBS News stated that she covered the 9/11 attacks in New York City and the military trials for the alleged suspects at Guantanamo Bay.
She has been the author of a book titled The Next Wave: On the Hunt for al Qaeda's American Recruits, which received a positive response. After her career at ABC News, she was employed at Fox News as a chief intelligence correspondent and reported from countries like Northern Ireland and Afghanistan.
Catherine Herridge is specifically known for covering the campaign of Hillary Clinton during the US Senate Elections in 2000. When she was employed at Fox News, she had a few problems with the channel regarding her salary as she wanted a raise.
She even reported the destruction of the US diplomatic facility in Libya in 2012 after the US Government attempted to keep it hidden from the public. She has won the Bronze World Medal for her contributions to the world of media for a long time.
Bob Bakish warned about the layoffs last month
Bob Bakish shared a memo with Reuters last month where he warned about the layoff, saying that they are currently focusing on streaming instead of films and TV shows after the strikes that left Hollywood in loss. He said at the time:
"Our priority is to drive earnings growth. And we'll get there by growing our revenue while closely managing costs – a balance that will require every team, division and brand to be aligned."
Paramount refused to reveal anything about the number of employees who would lose their jobs. Bob also mentioned that the company is planning to work on the things that are currently accepted by the public.
