Paramount Announces Major Layoffs Impacting Up To 3000 Employees This Month

Paramount Global is preparing for a significant wave of layoffs that could impact up to 3,000 employees. This development is expected to occur as early as the week of October 27, 2025. Insights from industry insiders reveal that this decision comes shortly after Skydance Media’s acquisition of Paramount.

Details of the Layoffs

The accelerated timeline for the layoffs indicates an urgent need for financial restructuring at Paramount, which is now overseen by David Ellison’s Skydance Corporation. This move reflects their efforts to tackle challenges from streaming competition and declining revenues from traditional television.

Projected Impact and Targets

• Initial estimates suggest that approximately 2,500 to 3,000 positions will be eliminated globally.
• Of these, around 2,000 positions are anticipated to be in the U.S.
• The layoffs follow a pre-merger workforce of about 18,000, highlighting a significant workforce reduction.

Financial Goals Behind the Layoffs

The company aims to cut operational costs by roughly $2 billion in the years following the merger. Skydance’s strategy emphasizes integrating its production efficiencies with Paramount’s existing operations.

Departments Affected

The impending layoffs are expected to affect various segments within Paramount:

• Theatrical film divisions facing unpredictable box office results.
• Streaming platforms, particularly Paramount+, dealing with subscriber losses.
• Linear television operations under pressure from cord-cutting trends.
• Global distribution and marketing units, targeted for redundancies.

Executive Changes and Future Outlook

This round of layoffs comes amid a series of high-profile executive departures, indicating potential instability within the leadership team. The merger’s value, estimated in the billions, originally aimed to create synergies that could enhance Paramount’s performance.

Upcoming Earnings Call

Paramount’s third-quarter earnings call is scheduled for November 10, which will likely provide insights into the financial implications of these job cuts. Analysts are keen to learn how these measures align with the company’s profitability goals amid the shifting media landscape.

Wider Industry Context

This move reflects a broader trend in the media industry, with other major companies like Warner Bros. Discovery and CNN also implementing job cuts in response to similar challenges. As the layoff timeline approaches, many in the industry are closely monitoring how these changes will impact Paramount and its future.

The coming weeks will determine if these drastic measures lead to a revitalized Paramount or intensify the struggles facing the media sector. As the leadership navigates this complex environment, the focus remains on adapting to a landscape where agility is increasingly crucial.