"The reductions, confirmed by multiple sources to Deadline and Bloomberg, mark the first major restructuring since the company's $8.4 billion merger with Skydance closed in August. International divisions are also expected to see layoffs in the coming weeks. The cuts, expected mostly across U.S. divisions, mark the beginning of a restructuring that could reportedly see as many as 2,000 staff let go overall, roughly 11 percent of its 18,600 full- and part-time workforce."
"The merger, which united CBS, MTV, and the Paramount+ streaming service with Skydance Media, was given Federal Communications Commission regulatory approval after the company paid President Donald Trump $16 million to settle a lawsuit over a 60 Minutes interview with Kamala Harris in 2024. The deal handed control of the storied studio to 42-year-old David Ellison, son of tech billionaire and Trump ally Larry Ellison."
"We do not want to be a company that has layoffs every quarter. So, it's going to be painful."
Paramount Skydance will cut about 1,000 jobs this week as the first phase of a post-merger restructuring that could total roughly 2,000 layoffs, affecting about 11 percent of its 18,600 workforce. The reductions are expected mainly across U.S. divisions, with international units facing cuts in the coming weeks. The $8.4 billion merger combined CBS, MTV, and Paramount+ with Skydance Media and transferred control to David Ellison. Leadership changes include Paramount president Jeff Shell acknowledging painful cuts and the appointment of Bari Weiss to reshape CBS News as John Dickerson departs.
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