Paramount Cuts 10% Workforce Amid Restructuring Under CEO David Ellison

Paramount, under CEO David Ellison's leadership, is undergoing a major workforce reduction, cutting approximately 10% of its employees, totaling around 2,000 jobs, as part of a restructuring plan following the merger with Skydance. These layoffs affect multiple divisions, including CBS News, Comedy Central, and the Paramount movie studio, with the first 1,000 cuts already implemented and another 1,000 expected soon. Ellison has communicated to staff that these reductions aim to eliminate redundancies and phase out roles misaligned with the company's evolving priorities, positioning Paramount for long-term growth and financial efficiency. The reorganization follows previous rounds of layoffs and occurs amid a highly competitive media landscape, with Ellison recently pursuing a potential deal with Warner Bros. Discovery, which remains stalled. Paramount emphasizes support for affected employees during this transition, acknowledging the difficulty of these decisions. The changes are part of a broader strategy to strengthen Paramount's focus on growth and prepare the company for future success.