Paramount Skydance to cut 2,000 jobs week of October 27: report

Paramount Skydance, under the leadership of new CEO David Ellison, is set to begin mass layoffs the week of October 27, eliminating approximately 2,000 U.S. jobs as part of a $2 billion cost-cutting plan, as reported by Variety.

These layoffs come in the wake of the $8.4 billion merger between Skydance Media and Paramount Global, which was finalized in August.

It is anticipated that there will be additional international job cuts, with full details expected to be disclosed in the company’s third quarter earnings report on November 10.

Variety previously reported on August 22 that Paramount was aiming to cut between 2,000 and 3,000 jobs by early November.

As of December 2024, Paramount had nearly 18,600 full- and part-time employees, along with 3,500 project-based staff.

Paramount Skydance has not yet responded to a request for comment from Reuters, and the report has not been verified at this time.