Paramount starting to lay off 2,000 workers

Paramount began the process of laying off roughly 2,000 employees, who have been bracing for such a move for months.

The cuts, beginning Wednesday, will initially affect almost 1,000 U.S. employees, including at CBS News, the Paramount film studio and cable networks, according to reports.

The additional layoffs will reportedly happen at a later date.

In a memo to employees, Chief Executive David Ellison said the layoffs are focused on “addressing redundancies” at the company.

“We want to be as open and direct as possible about the reasons behind these changes,” Mr. Ellison said in the memo. “In some areas, we are addressing redundancies that have emerged across the organization. In others, we are phasing out roles that are no longer aligned with our evolving priorities, and the new structure [is] designed to strengthen our focus on growth. Ultimately, these steps are necessary to position Paramount for long-term success.”

This comes after its merger with the Hollywood studio Skydance.

In July, the Federal Communications Commission approved Skydance Media’s $8 billion merger with Paramount.

Since then, many changes have moved through the company, including purchasing The Free Press and appointing its founder, Bari Weiss, as editor-in-chief of CBS News. 

Meanwhile, some top employees across the network announced departures, including Pam Kaufman, head of Paramount’s international business; Chris Aronson, president of U.S. distribution for Paramount Pictures; and John Dickerson, an anchor at “CBS Evening News.”

As of 2024, Paramount Global reported having about 18,600 employees.