Paramount Skydance is set to lay off about 2,000 employees in the United States starting the week of 27 October as part of a $2bn cost-cutting initiative, according to Variety.
The layoffs come just months after Skydance Media completed its $8.4bn merger with Paramount Global in August. Additional international job cuts are expected, with full details likely to be revealed in the company’s third-quarter earnings report on 10 November.
As of December 2024, Paramount employed nearly 18,600 full- and part-time staff, along with about 3,500 project-based workers.
Variety previously reported that Paramount planned to cut between 2,000 and 3,000 jobs by early November. The newly formed Paramount Skydance, led by chief executive David Ellison, has not yet commented on the report.
