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