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