Archive · 23 Aug 2025
Paramount to Begin Job Cuts in November, Exceeding $2 Billion
Paramount, now owned by Skydance, plans to reduce its workforce starting in November.
This means some people will lose their jobs.
The company aims to cut costs by more than $2 billion.
The number of jobs being cut is expected to be between 2,500 and 3,000 across different parts of the company.
Managers will tell HR who to let go in the next couple of months.
This move is intended to be a one-time effort to avoid constant layoffs.
Despite these cuts, Paramount has recently made big deals, such as securing the rights to show UFC fights and agreements with the creators of 'Stranger Things' and 'South Park'.
Paramount is expected to begin job cuts in November.
The job cuts are anticipated to affect 2,500-3,000 positions across various divisions.
Cost-cutting measures are expected to exceed $2 billion.
Managers will submit dismissal lists to HR between September and October.
The company recently secured major deals, including a UFC media rights agreement and deals with the Duffers and South Park co-creators.
- Who
- Paramount, now owned by Skydance
- What
- Paramount is initiating job cuts and cost-saving measures.
- When
- Layoffs are expected to begin in November, with managers submitting lists between September and October.
- Where
- Global Paramount locations
- Why
- To achieve cost efficiencies exceeding $2 billion.
Skydance's Stance
Internal Sentiment
Job Cuts
Skydance's Stance
Cutting Costs
Internal Sentiment
Maintaining workforce
- Company
- Paramount
- Owner
- Skydance
- Job Cuts Start
- November
- Estimated Positions Cut
- 2,500-3,000
- Cost Savings Target
- Exceeds $2 Billion
- UFC Deal
- $1.1 billion annually (starting 2026)