Paramount Job Cuts Coming Earlier Than Expected

Core Insights - Paramount is expected to accelerate its layoffs to the week of October 27, ahead of its Q3 earnings call scheduled for November 10 [1] - The initial round of layoffs is projected to affect 2,500-3,000 positions, with around 2,000 of those being stateside employees [2] - The company aims to achieve approximately $2 billion in cost savings following its merger with Skydance, which was finalized on August 7 [3] Layoff Details - The layoffs are anticipated to continue until the end of the year, with the first round starting in late October [2] - Cuts will be made across various divisions including theatrical, streaming, and linear, with key executives already having left the company [3] - Paramount currently employs around 18,000 individuals globally, while Skydance has a workforce of under 2,000 [3] Management Statements - Paramount President Jeff Shell expressed a desire to avoid quarterly layoffs, acknowledging the difficulty of the situation [4] - David Ellison informed staff that a return to the office five days a week will be expected starting January 5, 2026, with buyout options available for those preferring not to return [4] Strategic Moves - The new leadership under Ellison is preparing a potential $60 billion bid to acquire Warner Bros Discovery [5]