Paramount Skydance will lay off about 2,000 employees in the US as part of a $2 billion cost-cutting initiative under new CEO David Ellison, according to Variety. The layoffs are expected to begin the week of 27 October.
The cuts come after Skydance Media completed its $8.4 billion merger with Paramount Global in August, creating a new entertainment giant. Additional international job reductions are also anticipated, with full details expected in the company’s third-quarter earnings report on 10 November.
In August, Variety reported that Paramount was preparing to eliminate between 2,000 and 3,000 positions by early November. As of December 2024, the company employed roughly 18,600 full- and part-time workers, along with 3,500 project-based staff.
Paramount Skydance has not yet commented on the reported layoffs.
