Paramount Plans to Lay Off Up to 3,000 Employees by Early November, According to Variety

Job Cuts Announcement: Paramount plans to cut between 2,000 to 3,000 jobs by early November following its merger with Skydance Media.

Merger Completion: The $8.4 billion merger was completed earlier this month, resulting in the formation of Paramount Skydance Corp.

Layoff Impact: The layoffs will impact various divisions within the company, with the total number of affected employees still uncertain.

Strategic Move: Shortly after the merger, Paramount announced a $7.7 billion deal for exclusive U.S. broadcast rights to the Ultimate Fighting Championship for seven years.