Business Insider·2025-10-27 20:58Core Insights - Paramount Skydance is set to implement layoffs, eliminating approximately 1,000 positions, with potential for further cuts totaling 2,000 to 3,000 employees in the future [1][2]. Group 1: Layoff Details - The layoffs are scheduled for Wednesday, as confirmed by sources familiar with the plans [1]. - Paramount's president indicated that the cuts would be "painful" but swift, aiming to avoid quarterly layoffs in the future [2]. Group 2: Cost Savings and Leadership Changes - David Ellison, CEO of Paramount, promised investors $2 billion in cost savings following the merger with Skydance, which was finalized in August [2]. - New leadership has mandated a return to the office five days a week starting in January, offering severance packages to those unwilling to comply [7]. Group 3: Strategic Moves and Future Plans - Since the $8 billion merger, Ellison has made significant investments, including a $7.7 billion deal for UFC rights and hiring key talent from Netflix [8]. - Paramount has made three private offers to acquire Warner Bros. Discovery, which is currently undergoing a spinoff plan [9].