Paramount Skydance Launches Major Layoffs Following Merger Overhaul
Paramount Skydance is said to be initiating a sweeping round of layoffs this Wednesday, October 29, affecting roughly 1,000 U.S. employees in what marks the first major workforce reduction since the company’s $8.4 billion merger earlier this year between Paramount Global and Skydance Media.
The job cuts, impacting multiple departments, are part of a larger restructuring plan expected to trim around 2,000 positions companywide. Additional layoffs are anticipated in the weeks ahead, with international divisions also preparing for staff reductions, though specifics remain unclear.
Led by CEO David Ellison and President Jeff Shell, the newly combined studio aims to achieve $2 billion in cost savings through organizational consolidation, overlapping department mergers, and tighter operational efficiency.
The move reflects broader turbulence across the entertainment industry, as major media firms confront declining traditional TV revenues, shifting viewer behavior, and soaring streaming costs. Paramount Skydance’s restructuring underscores Hollywood’s ongoing trend toward consolidation and aggressive cost management.
Employees affected by the layoffs are expected to receive severance packages, though terms have not been disclosed.
As Paramount Skydance works to define its post-merger identity, analysts and industry insiders are watching closely to see whether this painful reset will position the studio for long-term stability and renewed creative growth.
In a related development, Yellowstone and Landman creator Taylor Sheridan is set to move his overall production deal to NBC Universal in 2029. NBC’s streaming platform, Peacock is the streaming home for Yellowstone
AMP Productions
Paramount Skydance Launches Major Layoffs Following Merger Overhaul
Paramount Skydance is said to be initiating a sweeping round of layoffs this Wednesday, October 29, affecting roughly 1,000 U.S. employees in what marks the first major workforce reduction since the company’s $8.4 billion merger earlier this year between Paramount Global and Skydance Media.
The job cuts, impacting multiple departments, are part of a larger restructuring plan expected to trim around 2,000 positions companywide. Additional layoffs are anticipated in the weeks ahead, with international divisions also preparing for staff reductions, though specifics remain unclear.
Led by CEO David Ellison and President Jeff Shell, the newly combined studio aims to achieve $2 billion in cost savings through organizational consolidation, overlapping department mergers, and tighter operational efficiency.
The move reflects broader turbulence across the entertainment industry, as major media firms confront declining traditional TV revenues, shifting viewer behavior, and soaring streaming costs. Paramount Skydance’s restructuring underscores Hollywood’s ongoing trend toward consolidation and aggressive cost management.
Employees affected by the layoffs are expected to receive severance packages, though terms have not been disclosed.
As Paramount Skydance works to define its post-merger identity, analysts and industry insiders are watching closely to see whether this painful reset will position the studio for long-term stability and renewed creative growth.
In a related development, Yellowstone and Landman creator Taylor Sheridan is set to move his overall production deal to NBC Universal in 2029. NBC’s streaming platform, Peacock is the streaming home for Yellowstone
2 weeks ago (edited) | [YT] | 10