Paramount Skydance cuts 1,000 U.S. jobs, aiming for $2B in savings post-merger.

Paramount Skydance is laying off about 1,000 employees in the U.S., marking the first major round of job cuts since its $8.4 billion merger with Skydance Media, with up to 2,000 positions potentially eliminated as part of a strategy to achieve over $2 billion in cost savings. The cuts follow earlier reductions in late 2024 and are tied to broader restructuring amid declining linear TV viewership and shifting media trends. Leadership changes, including David Ellison’s rise to CEO, have brought high-profile moves like acquiring UFC rights and hiring Bari Weiss, while the company also faces ongoing financial pressures. A return-to-office mandate starting in January offers severance to those who opt out. The news comes as Warner Bros. Discovery evaluates strategic options, including a potential sale.