Paramount Global’s planned layoffs, expected to impact 2,000 to 3,000 employees by early November 2025, are a key component of the company’s post-merger restructuring following its $8 billion acquisition by Skydance Media.
The layoffs are part of a strategic effort to achieve over $2 billion in cost savings, as outlined by Skydance founder and new Paramount CEO David Ellison and President Jeff Shell during recent investor communications.
The layoffs follow the completion of Paramount’s merger with Skydance Media in July 2025, a deal aimed at stabilizing the company amid financial challenges in its traditional TV and streaming businesses. Skydance, known for producing films like Top Gun: Maverick, took control of Paramount, with Ellison assuming leadership to steer the company toward profitability.
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| Jeff Shell |
Previous Layoffs: This is not Paramount’s first round of layoffs. In 2024, the company reduced its workforce by approximately 15%, affecting around 2,000 employees. Earlier in 2025, an additional 3.5% cut impacted several hundred workers. The upcoming layoffs are described as a “final” significant reduction to avoid ongoing, smaller cuts that disrupt operations.
Affected Divisions: The cuts will span multiple sectors of Paramount’s operations, including:Theatrical: Paramount Pictures, which has seen mixed box office performance, will likely see reductions in administrative and support roles.
Streaming: Paramount+ and Pluto TV staff may face cuts as the company seeks to streamline its digital operations.
Linear TV: Networks like CBS, MTV, and Nickelodeon, which are grappling with declining viewership, are expected to see significant reductions.
Streaming: Paramount+ and Pluto TV staff may face cuts as the company seeks to streamline its digital operations.
Linear TV: Networks like CBS, MTV, and Nickelodeon, which are grappling with declining viewership, are expected to see significant reductions.