Paramount Skydance is set to initiate significant layoffs, starting the week of October 27, resulting in the loss of approximately 2,000 jobs in the United States. This action is part of a $2 billion cost-cutting strategy being implemented under the leadership of new CEO David Ellison, according to a report from Variety.
These layoffs come in the wake of the recent $8.4 billion merger between Skydance Media and Paramount Global, which was finalized in August. Additionally, the company anticipates further job reductions internationally, with complete details expected to be revealed in its third-quarter earnings report scheduled for November 10.
Previously, on August 22, Variety reported that Paramount was considering cutting between 2,000 and 3,000 positions by early November. As of December 2024, the company had approximately 18,600 employees in full-time and part-time roles, alongside 3,500 project-based staff.
Paramount Skydance has not responded to requests for comments from Reuters.
Source: https://www.theguardian.com/us-news/2025/oct/18/paramount-skydance-to-eliminate-2000-us-jobs