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Paramount to Cut 1,000 Jobs Wednesday in First Round of Layoffs
Paramount Skydance aims to cut 2,000 U.S. jobs to meet $2 billion savings after its $8.4 billion merger, with further international layoffs expected.
- On Oct. 29, Paramount Skydance will lay off about 1,000 workers, Deadline and Variety confirmed.
- Executives pledged $2 billion in cost savings after the merger closed two-plus months earlier, with layoffs forming part of the post-close integration plan.
- Building on late-2024 reductions that trimmed rolls by about 15%, Paramount Skydance expects to eliminate around 2,000 jobs in the U.S. across planned rounds.
- Most affected staff are U.S.-based, with international divisions planning cutbacks in the coming weeks, and Paramount Skydance will report Q3 results on Nov. 10.
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Paramount to slash approximately 1,000 jobs in brutal round of layoffs
Paramount will slash roughly 1,000 jobs on Wednesday, Fox News Digital has confirmed. A headcount reduction has been expected since Paramount Global and Skydance merged earlier this year, putting CEO David Ellison in charge of the newly formed Paramount, a Skydance Corporation. Sources familiar with the situation said that "approximately" 1,000 positions will be cut as layoffs begin. The cuts will be company-wide, and primarily impact staffers …
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The new CEO David Ellison intends to achieve at least $2 billion in savings and accelerate the technological shift of the television and film giant.
Coverage Details
Total News Sources41
Leaning Left9Leaning Right5Center15Last UpdatedBias Distribution52% Center
Bias Distribution
- 52% of the sources are Center
52% Center
L 31%
C 52%
R 17%
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