Paramount Skydance is preparing to lay off about 2,000 employees in the US as part of a $2 billion cost-cutting plan under new CEO David Ellison, according to a report from Variety. The layoffs are set to begin the week of 27 October.
The job cuts follow the $8.4 billion merger between Skydance Media and Paramount Global, which was completed in August. Additional international layoffs are also expected, with full details likely to be announced in the company’s third-quarter earnings report on 10 November.
In August, Variety reported that the company was planning to reduce its workforce by 2,000 to 3,000 positions by early November.
As of December 2024, Paramount employed nearly 18,600 full- and part-time staff, plus 3,500 project-based workers. Paramount Skydance has not yet commented on the reported layoffs.
