Paramount Skydance is set to lay off about 2,000 employees in the US starting the week of 27 October, according to Variety. The cuts are part of a $2 billion cost-reduction plan under new CEO David Ellison.
The layoffs come just months after Skydance Media’s $8.4 billion merger with Paramount Global was finalized in August. Additional international job cuts are expected, with more details likely to be shared in the company’s third-quarter earnings report on 10 November.
Earlier reports suggested Paramount was targeting between 2,000 and 3,000 job reductions 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 report.
