Paramount Skydance plans to lay off about 2,000 US employees beginning the week of 27 October as part of a $2 billion cost-cutting effort under new CEO David Ellison, Variety reported.
The layoffs come just months after Skydance Media completed its $8.4 billion merger with Paramount Global in August. Additional job cuts are expected internationally, with full details likely to be revealed in the company’s third-quarter earnings report on 10 November.
Earlier reports suggested that between 2,000 and 3,000 positions could be eliminated by early November. As of December 2024, Paramount employed roughly 18,600 full- and part-time staff, plus about 3,500 project-based workers.
Paramount Skydance has not yet issued an official comment on the planned reductions.
