Paramount Skydance will lay off about 2,000 US employees starting the week of 27 October as part of a $2 billion cost-cutting plan led by new CEO David Ellison, Variety reported.
The cuts come just months after Skydance Media completed its $8.4 billion merger with Paramount Global in August. Additional layoffs are expected internationally, with full details likely to be announced in the company’s third-quarter earnings report on 10 November.
Earlier reports indicated that between 2,000 and 3,000 positions could be eliminated by early November.
As of December 2024, Paramount employed roughly 18,600 full- and part-time staff and about 3,500 project-based workers.
Paramount Skydance has not yet commented publicly on the reported layoffs.
