Paramount to cut 1,000 jobs in first round of layoffs

Paramount Skydance will begin a major round of layoffs on Wednesday, with about 1,000 employees expected to be affected.

The cuts come after the $8.4 billion merger between Skydance Media and Paramount Global and represent roughly 5% of Paramount’s workforce prior to the deal’s completion. As of December 2024, Paramount employed nearly 18,600 full- and part-time staff, along with 3,500 project-based workers, News.Az reports, citing Reuters.

This move follows news that Warner Bros Discovery rejected a nearly $60 billion offer from Paramount Skydance, though analysts continue to view the David Ellison-led firm as the likely successful bidder.

News.Az