Paramount will slash roughly 1,000 jobs on Wednesday, Fox News Digital has confirmed.
A headcount reduction has been expected since Paramount Global and Skydance merged earlier this year, putting CEO David Ellison in charge of the newly formed Paramount, a Skydance Corporation. Sources familiar with the situation said that "approximately" 1,000 positions will be cut as layoffs begin.
The cuts will be company-wide, and primarily impact staffers based in the United States.
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Paramount declined comment when reached by Fox News Digital.
Skydance Media and Paramount Global announced the completion of their long-planned, $8 billion merger in August.
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Ellison has made waves since taking over the parent company of assets including CBS, Comedy Central and the iconic movie studio. He previously told staffers that employees need to be together in person to "unlock Paramount’s full potential," and said employees assigned to Paramount’s Los Angeles and New York offices must return full-time beginning Jan. 5, 2026, or accept a buyout.
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The layoffs come weeks after Paramount purchased The Free Press for a reported $150 million in cash and stock. Ellison has also paid $7 billion for an exclusive UFC deal, and is considered a candidate to acquire Warner Bros. Discovery in another massive media merger.
This is a developing story, more to come…
