The freshly minted Paramount Skydance is making some changes when it comes to spending. The company will be making a large number of layoffs effective October 27th. 

Paramount Skydance has been undergoing some major financial changes in recent years. Although several content deals have been made for brand new projects, perhaps the biggest opportunity Paramount has brewing currently is the potential merger with Warner Bros. Discovery, though reports state that a recent offer has been rejected. 

It hasn’t been a big secret that Paramount is planning on reducing spending. The current president of Paramount Skydance, Jeff Shell, made it known that they would be making some changes when it comes to their finances, due especially to the adjustment to the streaming era, resulting in gradually diminishing returns. 

The layoffs were something the company was upfront about, as well. Variety, which was also able to report on the news first, noted that when Shell addressed their shifting gears to clean up their spending, they stated that layoffs would come as well. The reports from the layoffs will be part of their quarter three earnings to be released on November 10th. 

Right around 2,000 jobs are set to be cut from Paramount Skydance, but that’s only in the US. Variety also noted that many more may be cut internationally, as well. 

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