Paramount Skydance Initiates Workforce Reductions Amid Post-Merger Restructuring

Paramount Skydance has announced plans to reduce its workforce by approximately 2,000 employees, beginning the week of October 27, 2025. This decision follows the merger between Paramount Global and Skydance Media, finalized in August 2025, and aims to achieve over $2 billion in annual cost savings.

The layoffs will affect various divisions, including the iconic movie studio, CBS News, and Comedy Central. CEO David Ellison stated that these steps are necessary to position Paramount for long-term success. He noted that the company is addressing redundancies and phasing out roles that no longer align with evolving priorities and the new structure designed to strengthen focus on growth.

At CBS News, nearly 100 positions are expected to be eliminated. These cuts were reportedly in the works before Ellison appointed Bari Weiss as editor-in-chief earlier this month, following the acquisition of her startup outlet, The Free Press.

The reorganization comes as the wider media industry observes Ellison's ambitious plans for Paramount. In recent weeks, Ellison has been pursuing Warner Bros. Discovery, the parent of CNN, HBO Max, and the Warner Bros. studio. The WBD board has rebuffed those initial offers and started a strategic review, which could result in a sale of the entire company, a continuation of the current plan to split WBD into two, or some other outcome.