Paramount Skydance employees are facing a broad across-the-board culling under David Ellison’s new management regime the week of Oct. 27, Variety has confirmed. Major job cuts have been expected even before the Skydance Media-Paramount Global deal closed,

Paramount Skydance will begin mass layoffs the week of October 27, eliminating around 2,000 U.S. jobs as part of a $2 billion cost-cutting plan under new CEO David Ellison, Variety reported on Saturday. The layoffs follow the $8.4 billion merger between Skydance Media and Paramount Global, which closed in August.

Paramount Skydance (PSKY) to lay off 2,000 employees from Oct. 27, accelerating a prior plans to begin mass layoffs following its $8B merger. Read more here.

Paramount Skydance is expected to lay off around 2,000 employees in the United States as part of a major cost-cutting plan, according to reports. The layoffs come after the completed merger between Skydance Media and Paramount Global in August, valued at US$8 billion.

Netflix dismissed merger speculation following Warner Bros. Discovery’s review of potential buyout offers, reaffirming the company’s focus on organic growth and AI-driven innovation over traditional media acquisitions.

Controversial political journalist Bari Weiss is the new leader of CBS News as Paramount Skydance officially buys her online news company The Free Press.Weiss officially announced her new role as editor-in-chief at CBS News in a post on The Free Press on Monday,

The studio’s vp, finance and operations Carolina Borreguero Sanz spoke on a panel at Iberseries & Platino Industria in Madrid.

Netflix Has 'No Interest in Owning Legacy Media Networks,' Co-CEO Ted Sarandos Says When Asked About Industry M&A

Oracle founder Larry Ellison and Skydance Media executive David Ellison are expanding their U.S. media empire through significant acquisitions, including a stake in a U.S.-backed group purchasing TikTok and the $8 billion acquisition of Paramount Skydance.