New Delhi, August 25: Paramount is reportedly preparing to lay off its employees by early November 2025, following its recent USD 8.4 billion merger with Skydance Media. As per reports, the restructuring plan could lead to a significant reduction in the company’s workforce. The Paramount job cuts are expected to affect nearly 3,000 employees. The possible workforce reductions coincide with Paramount Skydance’s first strategic initiative since the merger.

The Paramount layoffs may affect staff across various divisions. Paramount Global and Skydance Media finalised their USD 8.4 billion merger earlier this month. Following the completion of the deal, the merged entity has been rebranded as Paramount Skydance Corp. As per a report of Variety, Paramount layoffs are likely to begin by early November, and the company is expected to reduce its workforce by around 2,000 to 3,000 employees. TCS Layoffs Backlash: UNITE and CITU Employee Unions Hold Protest Against IT Giant Alleging It Reduced High-Performing Employees; Tata Consultancy Services Issues Statement.

The layoffs are expected to coincide with Paramount’s upcoming third-quarter 2025 earnings report. The company’s new leadership had already indicated that they are hoping for over USD 2 billion in cost savings following the merger. As per reports, by December 2024, Paramount employed around 18,600 full and part-time staff, along with 3,500 project-based workers. Tech Layoffs in 2025: 80,945 Employees Laid Off in Technology Sector This Year by 179 Companies; Check Job Cuts Announced in July and August.

Shortly after Skydance’s takeover, the company agreed to pay USD 7 billion for an exclusive seven-year agreement securing the rights to Ultimate Fighting Championship (UFC) events. The company has also reportedly secured a multi-year exclusive agreement with the Duffers for theatrical releases and streaming. As per a report of Deadline, Paramount President Jeff Shell said, "So, it’s going to be painful. It’s always hard, but we don’t want to be a company that every quarter is laying people off. We do not want to be a company that has layoffs every quarter."

(The above story first appeared on LatestLY on Aug 25, 2025 03:30 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).