On October 20, 2025, Paramount Skydance announced a plan to eliminate 2,000 positions, with the layoffs scheduled to take effect on October 27, 2025. The announcement was made by the company’s new CEO, David Ellison, as part of a broader effort to streamline operations and reduce costs following the merger with Skydance Media.
The layoff plan is a key component of a $2 billion cost‑reduction initiative that the company has outlined to improve profitability and free up capital for strategic investments. By cutting workforce headcount, Paramount Skydance aims to lower operating expenses and accelerate its transition to a streaming‑first business model.
For investors, the announcement signals a significant shift in the company’s cost structure and operational focus. While the layoffs may temporarily impact employee morale and short‑term productivity, the expected savings are intended to support the company’s long‑term growth strategy and enhance shareholder value.
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