Paramount Plans 2000 US Job Cuts Following Skydance Merger

Paramount Global, recently acquired by Skydance Media under CEO David Ellison, is undergoing significant restructuring that includes cutting around 2,000 jobs globally, with approximately 1,000 layoffs already occurring in the United States. These cuts have affected various parts of the company, including local stations like Pittsburgh's KDKA-TV, where 12 jobs were lost, including three on-air talent members. The layoffs extend across multiple divisions, including CBS Entertainment, CBS News, MTV, and Paramount+, impacting executives and senior vice presidents. Ellison has emphasized that the restructuring and workforce reductions are aimed at eliminating redundancies and aligning the company with new priorities to ensure long-term growth and competitiveness in a changing media landscape. The cuts come amid Paramount's efforts to become a leaner, faster, and more agile company, following its merger with Skydance and recent strategic moves such as acquiring exclusive UFC rights. The media giant continues to face challenges due to the shift from traditional cable to streaming, necessitating these significant operational changes.