Paramount Skydance is preparing to lay off about 2,000 employees in the United States as part of a $2 billion cost-cutting initiative under new CEO David Ellison, Variety reported on Saturday.
The cuts, set to begin the week of 27 October, come just months after Skydance Media completed its $8.4 billion merger with Paramount Global in August. Additional international job reductions are expected, with more details to be announced in the company’s third-quarter earnings report on 10 November.
As of December 2024, Paramount employed nearly 18,600 full- and part-time workers, along with about 3,500 project-based staff.
The layoffs had been anticipated since August, when reports suggested the company planned to eliminate between 2,000 and 3,000 positions by early November.
Paramount Skydance has not yet commented on the reported job cuts.
