Paramount Skydance is set to lay off about 2,000 employees in the US starting the week of 27 October as part of a $2 billion cost-cutting plan under new CEO David Ellison, according to Variety.
The cuts come just two months after Skydance Media completed its $8.4 billion merger with Paramount Global in August. Additional international layoffs are expected, with full details likely to be announced in the company’s third-quarter earnings report on 10 November.
Variety previously reported that Paramount planned to eliminate between 2,000 and 3,000 jobs by early November.
As of December 2024, Paramount 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.
