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