Paramount Skydance is set to begin major layoffs the week of 27 October, cutting around 2,000 jobs in the US as part of a $2 billion cost-reduction plan led by new CEO David Ellison, Variety reported.
The cuts follow the $8.4 billion merger between Skydance Media and Paramount Global, which was finalized in August. Additional international layoffs are expected, with full details to be revealed in the company’s third-quarter earnings report on 10 November.
Earlier reports suggested Paramount was planning to eliminate between 2,000 and 3,000 positions by early November.
As of December 2024, the company employed about 18,600 full- and part-time staff, along with 3,500 project-based workers.
Paramount Skydance has not yet commented publicly on the reported layoffs.
