Paramount Skydance will begin mass layoffs in late October, cutting about 2,000 jobs in the US as part of a $2bn cost-reduction plan under new CEO David Ellison, Variety reported on Saturday.
The job cuts come two months after the $8.4bn merger between Skydance Media and Paramount Global, which was finalized in August. Additional international layoffs are expected, with full details set to be announced in the company’s third-quarter earnings report on 10 November.
Earlier reports suggested Paramount was preparing to eliminate between 2,000 and 3,000 positions by early November.
As of December 2024, the company employed nearly 18,600 full- and part-time staff, along with 3,500 project-based workers.
Paramount Skydance has not yet commented on the reported layoffs.
