Paramount is looking to eliminate between 2,000 to 3,000 jobs by early November, after the completion of its merger with the production studio Skydance, Variety reported on Friday.
Paramount Global and Skydance Media completed their $8.4 billion merger — announced more than a year ago — earlier this month, and the combined company was renamed Paramount Skydance Corp.
The layoffs will affect staff across divisions, and the numbers could vary, the Variety report said.
As of December 2024, Paramount had nearly 18,600 full- and part-time employees, and 3,500 project-based staff.
Paramount Skydance declined to comment on the report.
On Monday, just days after Paramount ironed out the details of its merger with Skydance, it said it would pay $7.7 billion for exclusive U.S. broadcast rights to the Ultimate Fighting Championship for seven years — the first major strategic move by the combined company.
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