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Paramount Skydance to cut 2,000 jobs in the US following $8.4 billion merger
As of December 2024, Paramount had about 18,600 full- and part-time employees, along with 3,500 project-based staff.
Global media and entertainment industry is witnessing a wave of layoff amid cost-cutting measures and restructuring efforts.
Paramount Skydance is reportedly set to lay off around 2,000 employees in the United States, starting October 27, according to a report by Variety.
The layoffs come after Skydance Media’s $8.4 billion merger with Paramount Global in August this year. While the initial cuts are focused in the US, additional international job reductions are expected to follow when the company reports its Q2 earnings in November.
As of December 2024, Paramount had about 18,600 full- and part-time employees, along with 3,500 project-based staff.
The development adds to the continuing wave of layoffs across the global media and entertainment industry, which began last year amid cost-cutting measures and restructuring efforts.
In July, Warner Bros. Motion Picture Group announced plans to cut roughly 10% of its workforce as part of a major restructuring ahead of the company’s planned split into two units.
Similarly, Deadline reported that Universal International Studios implemented job cuts earlier this year across its London headquarters and hubs in Australia and Los Angeles.
NBC News also began laying off about 150 employees, or roughly 7% of its staff, earlier this month, according to The New York Times.
In January 2025, The Washington Post said it would eliminate around 4% of its workforce, or fewer than 100 employees, as it struggles with mounting financial losses.
Meanwhile, Walt Disney is also reportedly planning to lay off several hundred employees across its film, television, and corporate finance divisions, according to Reuters. The cuts are expected to impact teams across marketing, publicity, casting, and development.
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