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