Swing To Trade
  • Stock
  • Politics
  • Business
  • Sports
Stock

Paramount Skydance to cut around 2,000 Jobs amid cost-cutting push: report

by admin October 19, 2025
October 19, 2025

Paramount Skydance employees are set to face a substantial wave of layoffs under the leadership of David Ellison, Variety has reported.

The reductions, expected during the week of October 27, follow the $8 billion merger of Skydance Media and Paramount Global and align with Ellison’s broader strategy to trim costs across the newly combined company.

Major layoffs expected following merger

Job cuts at Paramount Skydance had been anticipated even before the merger closed.

Ellison and his team have targeted upwards of $2 billion in annualized cost savings at the combined company, much of which is expected to come from Paramount’s linear TV operations.

The report said citing sources that the current round of layoffs will eliminate approximately 2,000 jobs in the US, with additional reductions planned internationally.

The move was foreshadowed during an August 7 press conference in New York, held shortly after the merger was finalized.

Jeff Shell, former CEO of NBCUniversal and now president of Paramount Skydance, stated that the company would execute cost cuts and layoffs as quickly as possible, with detailed disclosures to be included in the Q3 2025 earnings report, scheduled for November 10 after the market closes.

Paramount, which owns CBS, Paramount Pictures, Paramount+, Pluto TV, MTV, Comedy Central, Nickelodeon, and BET, has experienced longer-term declines in traditional advertising and distribution revenue amid a shift of pay-TV subscribers toward streaming services.

As of December 31, 2024, the company reported approximately 18,600 full- and part-time employees worldwide, down from 24,500 two years earlier.

Prior to the Skydance merger, Paramount had already implemented additional staff reductions, including a 3.5% reduction of domestic employees in June 2025.

Content investments continue despite job cuts

Even as layoffs loom, Paramount Skydance is ramping up investment in content.

In the week following the merger, the company announced a $7.7 billion, seven-year deal for exclusive UFC rights, a partnership with Activision to produce a “Call of Duty” movie, and the acquisition of The Free Press, founded by Bari Weiss, for a reported $150 million.

Paramount Skydance also secured a four-year exclusive agreement with the Duffer Brothers, creators of Stranger Things, to produce films, shows, and streaming content.

These moves demonstrate the company’s commitment to expanding its content portfolio while pursuing significant operational efficiencies.

Ellison, who holds 100% voting control over Paramount Skydance, is also reportedly exploring a potential acquisition of Warner Bros. Discovery, although WBD has rejected the company’s $20-per-share offer as too low.

Leadership restructuring and strategic vision

Since the merger closed, Ellison has overseen a series of C-level hires to strengthen the company’s leadership team.

Key appointments include Makan Delrahim as chief legal officer, Dane Glasgow as chief product officer, and Jay Askinasi as chief revenue officer.

Cindy Holland, Dana Goldberg, and Josh Greenstein continue to play central roles in Paramount’s film and streaming divisions, while George Cheeks has transitioned to Chair of TV Media.

In July 2024, Shell revealed that the Skydance team, in collaboration with consulting firm Bain & Co., had identified potential annualized savings of $2 billion at the combined company.

The bulk of these savings are expected to come from the traditional TV business, reflecting the ongoing industry-wide challenges posed by declining linear TV revenue.

The upcoming layoffs represent the next phase in Paramount Skydance’s post-merger integration, as Ellison’s management works to streamline operations while simultaneously investing in premium content to strengthen the company’s long-term growth prospects.

The post Paramount Skydance to cut around 2,000 Jobs amid cost-cutting push: report appeared first on Invezz

previous post
Kering in talks to sell beauty business to L’Oréal for $4B: report
next post
Customers sue sneaker company On over shoes that cause ‘noisy and embarrassing squeak’

Related Posts

Here’s why the SCHD ETF is lagging and...

October 20, 2025

Nebius stock pulls back after big run: is...

October 20, 2025

From $14B to near zero: is Beyond Meat...

October 20, 2025

Rare earths, flying cars, nuclear power – why...

October 20, 2025

Apple becomes 2nd most valued company in the...

October 20, 2025

Kering in talks to sell beauty business to...

October 19, 2025

Weekly wrap: US shutdown drags on, Trump touts...

October 19, 2025

Why Hims & Hers stock is failing to...

October 18, 2025

Why Oracle stock tanked over 6% on Friday

October 18, 2025

Philip Jansen of WPP poised to become Heathrow’s...

October 18, 2025
Join The Exclusive Subscription Today And Get Premium Articles For Free

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    Recent Posts

    • Here’s why the SCHD ETF is lagging and key catalysts to watch

      October 20, 2025
    • Nebius stock pulls back after big run: is Microsoft partnership enough to sustain gains?

      October 20, 2025
    • From $14B to near zero: is Beyond Meat stock worth buying now?

      October 20, 2025
    • Rare earths, flying cars, nuclear power – why Cramer wants you to sell all these

      October 20, 2025
    • Apple becomes 2nd most valued company in the world again

      October 20, 2025
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 SwingToTrade.com All Rights Reserved.

    Swing To Trade
    • Stock
    • Politics
    • Business
    • Sports