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