Paramount Initiates Major Layoffs Following Skydance Merger

Paramount Skydance Corp., formed from the August 2025 merger of Paramount Global and Skydance Media, has commenced a substantial workforce reduction. Approximately 1,000 U.S.-based employees are being laid off, with additional cuts anticipated in the near future. This initiative is part of the company's strategy to realize over $2 billion in annual cost savings, as committed to investors by CEO David Ellison and President Jeff Shell.

The layoffs predominantly affect the Paramount side, given its larger workforce compared to Skydance. Departments such as linear cable networks, marketing, and distribution are heavily impacted. Notable departures include Teri Fleming, EVP and head of marketing for Paramount Global Content Distribution; Pamela Soper, SVP of Current Programming at CBS Entertainment; and Rose Catherine Pinkney, SVP of Scripted Programming and Development at BET.

MTV's music team has been disbanded, leading to the exit of Wendy Plaut, SVP and Head of Music & Celebrity Talent, and Amanda Culkowski, VP of Music Program Development and Documentaries. Paramount+ has also seen changes, with Jeff Grossman, EVP of Programming, and Patricia Kollappallil, SVP of Corporate Communications, departing. Amy Campbell, Chief Marketing Officer for Paramount Media Networks & MTV Entertainment Studios, has decided to step away from her role.

These layoffs are part of a broader restructuring effort aimed at achieving over $2 billion in annual cost savings, as promised to investors by new CEO David Ellison and President Jeff Shell. The company had originally targeted these reductions for disclosure during its Q3 2025 earnings call in early November but accelerated the process for efficiency.

In a memo to staff, CEO David Ellison stated,

"In some areas, we are addressing redundancies that have emerged across the organization. In others, we are phasing out roles that are no longer aligned with our evolving priorities and the new structure designed to strengthen our focus on growth. Ultimately, these steps are necessary to position Paramount for long-term success."

The company plans to lay off about 1,000 staffers today, with an additional thousand to follow. The vast majority of the affected employees are based in the U.S., with international divisions planning cuts in the coming weeks.