Paramount Skydance is set to lay off about 2,000 U.S. employees beginning the week of October 27 as part of a $2 billion cost-cutting initiative under new CEO David Ellison, Variety reported.
The cuts follow the $8.4 billion merger between Skydance Media and Paramount Global, which was finalized in August. Additional international layoffs are expected, with full details likely to be announced in the company’s third-quarter earnings report on November 10.
Variety previously reported in August that Paramount planned to eliminate between 2,000 and 3,000 positions by early November.
As of December 2024, Paramount employed around 18,600 full- and part-time workers, along with 3,500 project-based staff.
Paramount Skydance has not yet commented publicly on the reported layoffs.
