A Big Axe to Swing at Paramount

The newly merged company, now operating as Paramount Skydance under CEO David Ellison, will eliminate approximately 2,000 U.S. jobs as part of an aggressive $2 billion cost-cutting plan, according to a Saturday report by Variety.

These layoffs come two months after the finalization of the $8.4 billion merger between Skydance Media and Paramount Global in August.

• Additional international job cuts are anticipated.

• The company is expected to release the full details of the staffing reductions in its third-quarter earnings report on November 10.

• Variety previously reported on August 22 that the company was looking to cut between 2,000 and 3,000 jobs by early November.

As of December 2024, Paramount Global had nearly 18,600 full- and part-time employees, plus 3,500 project-based staff. Paramount Skydance has not yet responded to a request for comment.