According to sources close to the company, after successfully finalizing the Skydance merger, Paramount will cut thousands of jobs across multiple divisions. The cuts are expected to be completed sometime in early November and affect upwards of 2,000 to 3,000 employees. They would occur not long before Paramount is set to announce its third-quarter 2025 earnings.

The announcement of these cuts comes not long after Paramount’s change in management. With the Paramount and Skydance merger, which is said to cost the company as much as $8 billion, Skydance founder and former CEO David Ellison became the head chairman and CEO of Paramount Skydance. Ellison also brought in new executives, such as former NBCUniversal CEO Jeff Shell, who will serve as Paramount Skydance’s new president, and Cindy Holland, Dana Goldberg, and Josh Greenstein, who will help manage streaming and film operations.

With this merger, Ellison controls Paramount’s franchises, including Star Trek, SpongeBob SquarePants, Top Gun, and Teenage Mutant Ninja Turtles. Since the merger, Ellison has said he plans to focus heavily on film and TV content, announcing many new deals. Most recently, he announced the signing of Stranger Things creators the Duffer Brothers to an exclusive four-year film and TV contract.

What more will come from the Paramount Skydance merger remains to be seen.