Paramount To Cut Roughly 1,000 Workers In U.S. On Wednesday, With Another Thousand Soon To Follow

Group 1 - Paramount plans to lay off approximately 1,000 workers, with an additional 1,000 layoffs to follow at a later date [1] - The majority of the layoffs will occur in the U.S., with international divisions also expected to implement cutbacks [1] - These layoffs are part of a broader strategy to achieve $2 billion in cost savings following the $8.4 billion merger with Skydance [2] Group 2 - The layoffs are occurring more than two months after the merger was completed, indicating a delayed response to the need for cost reductions [2] - President Jeff Shell emphasized the intention to minimize the number of layoff rounds, aiming to avoid quarterly layoffs [3] - The previous management had already reduced the workforce by about 15% in the U.S. through three rounds of layoffs in late 2024 [3]