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

Core Insights - Paramount Skydance will initiate mass layoffs, eliminating approximately 2,000 U.S. jobs as part of a $2 billion cost-cutting strategy under new CEO David Ellison [1][5][6] - The layoffs are a consequence of the $8.4 billion merger between Skydance Media and Paramount Global, which was finalized in August [1][3][5] - Additional international job cuts are anticipated, with comprehensive details expected to be revealed in the third quarter earnings report on November 10 [1][5] Company Overview - As of December 2024, Paramount employed nearly 18,600 full- and part-time employees, along with 3,500 project-based staff [6] - The company had previously indicated plans to reduce between 2,000 and 3,000 jobs by early November [5]