Paramount Skydance plans to lay off about 2,000 U.S. employees starting the week of 27 October as part of a $2 billion cost-cutting initiative under new CEO David Ellison, Variety reported on Saturday.
The cuts come just months after Skydance Media completed its $8.4 billion merger with Paramount Global in August. Additional international layoffs are also expected, with full details to be shared in the company’s third-quarter earnings report on 10 November.
A previous Variety report in August suggested that between 2,000 and 3,000 jobs could be eliminated by early November.
As of December 2024, Paramount employed nearly 18,600 full- and part-time staff, along with about 3,500 project-based workers.
Paramount Skydance has not yet commented on the reported layoffs.
