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 initiative, according to a report from Variety.
The layoffs come just months after the $8.4bn merger between Skydance Media and Paramount Global was finalized in August, creating the new combined company under chief executive David Ellison.
Further international job reductions are expected, with full details to be shared in the company’s third-quarter earnings report on 10 November.
As of December 2024, Paramount employed nearly 18,600 full- and part-time workers, along with 3,500 project-based staff. Earlier reports suggested the company was targeting cuts of between 2,000 and 3,000 positions by early November.
Paramount Skydance has not yet issued an official comment on the layoffs.
