Paramount Skydance will lay off about 2,000 employees in the U.S. starting the week of 27 October as part of a $2 billion cost-cutting plan led by new CEO David Ellison, Variety reported on Saturday.
The job cuts come just months after Skydance Media completed its $8.4 billion merger with Paramount Global in August. Additional layoffs are expected internationally, with more details to be released in the company’s third-quarter earnings report on 10 November.
A previous Variety report suggested Paramount was targeting between 2,000 and 3,000 job reductions 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 publicly on the planned layoffs.
