Paramount Skydance will lay off about 2,000 US employees starting the week of 27 October as part of a $2bn cost-cutting plan under new CEO David Ellison, Variety reported.
The layoffs come two months after the $8.4bn merger between Skydance Media and Paramount Global, which was finalized in August. Additional job cuts are expected internationally, with further details to be announced in the company’s third-quarter earnings report on 10 November.
Earlier reports suggested Paramount planned to reduce between 2,000 and 3,000 positions by early November. As of December 2024, the company employed nearly 18,600 full- and part-time workers, plus 3,500 project-based staff.
Paramount Skydance has not yet commented on the reported layoffs.
