David Ellison, Paramount
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CEO David Ellison announces Paramount’s first 10% staff reduction post-merger, impacting hundreds across film, music, and news divisions.
The widely anticipated layoffs come just months after the Trump administration greenlit the creation of the company following Skydance’s bid for the storied entertainment group.
Major Paramount layoffs begin today with CEO David Ellison seeking to reposition the company and shift financial resources toward what he and his executive team see as growth opportunities. Ellison told the staff about the job cuts on Wednesday. Around 1,000 jobs are expected to be affected.
Paramount began significant layoffs Wednesday morning, with about 1,000 U.S.-based workers being let go in the first round, and roughly another 1,000 soon to follow. The 2,000 layoffs represent about 10% of Paramount’s employee base.