Paramount Skydance is the latest company to enact cost-cutting measures that involve laying off staff. In a report from Reuters, it's stated that as soon as tomorrow, October 29, around 1,000 jobs will be slashed at the production giant, a decision that will impact around 5% of the global workforce.
The reason behind the layoffs aren't directly communicated, but it is mentioned that it follows the $8.4 billion merger that happened between Paramount and Skydance recently, suggesting that it's somewhat down to reconsolidating its resources.
Either way, one would think that if you're ready to splash $60 billion on a full acquisition of Warner Bros. Discovery, you might be able to get away without laying off 1,000 people. Still, in the grand scheme of things, this will likely have a somewhat minor impact on the company, as it's said that in December 2024, Paramount alone employed 18,600 full-and-part-time employees plus a further 3,500 staff, with no direct information about Skydance's staff numbers at that time being shared.