Summary:
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Paramount Skydance Corp. plans to lay off 1,000 US employees this week after the recent merger with Skydance. Notifications expected Wednesday.
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The job cuts aim to save $2 billion annually, focusing on Paramount+ streaming. Additional layoffs may follow.
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Paramount Skydance’s restructuring comes after failed bids for Warner Bros. Discovery as it continues to seek scale plays.
Paramount Skydance Corp. is preparing to lay off about 1,000 employees in the United States this week, with notifications expected on Wednesday, as the newly combined company begins restructuring after its merger with Skydance.
Reuters first reported the plan, noting the reduction represents roughly 5 percent of headcount. Variety and Deadline also reported the 1,000-person figure and Wednesday timing.
PARAMOUNT TO CUT 1,000 JOBS https://t.co/02GSGWd7xH
— NewsWire (@NewsWire_US) October 27, 2025
The layoffs follow the company’s merger close in August, which created the new Paramount led by CEO David Ellison and president Jeff Shell. The Hollywood Reporter said the combined company has targeted at least $2 billion in annual cost savings as part of its integration plan. Earlier coverage from 2024 also identified $2 billion-plus in intended cuts, largely tied to overhauling legacy linear TV operations.
Reports indicate the first wave could be followed by additional reductions as leadership reallocates spending toward the Paramount+ streaming platform while evaluating legacy cable assets across the portfolio. Deadline and Business Insider both tied the restructuring to the multibillion-dollar savings goal set by Ellison’s team.
The job cuts come as Paramount Skydance continues to explore scale plays. In recent weeks, Warner Bros. Discovery rejected multiple unsolicited approaches from Paramount Skydance, including an offer valued at around $20 a share, according to Variety and other outlets. Reuters previously reported Paramount Skydance had been preparing a bid for Warner Bros. Discovery shortly after the merger closed.
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Paramount Skydance is expected to outline restructuring progress and synergy capture in upcoming financial updates. Coverage to date has not detailed which divisions will see the deepest cuts, although reports suggest impacts across film, TV networks and streaming. We will update as the company provides official guidance or files new disclosures.
