Paramount Skydance will initiate its first wave of major layoffs tomorrow (October 29), according to multiple media reports.

Roughly 1,000 jobs are expected to be eliminated in this round, mainly targeting workers in the US—with cuts affecting international teams expected in the next few weeks. Though there’s no exact date set for the second round of layoffs, an additional 1,000 jobs will be on the chopping block, according to Deadline.

Kidscreen has reached out to Paramount for further comment on the workforce reductions and the expected impact on the kids teams, but the company did not respond before press time.

This significant workforce reduction has been anticipated ever since the long-drawn-out US$8.4-billion merger of Paramount and Skydance closed over the summer. While originally planned for November, the layoffs were rescheduled a little earlier, leaving some space before the Q3 financial call slated for November 10.

CEO David Ellison and the new management are aiming to achieve US$2 billion in savings through these cuts, and they’ve been open about wanting to get all the layoffs done at once, rather than slowly reducing the workforce over time.

A number of notable kids executives have turned in their notice in the lead-up to the expected cuts. Paramount veteran Pam Kaufman, who oversees the consumer product and licensing business, announced her plans to exit after 30 years. And in the UK, regional lead and Channel 5 president Sarah Rose will depart the company at the end of the year to join The Royal Foundation in February. And just today, VP of communications for Nickelodeon and Paramount+ Kids & Family Lilah Kojoori revealed that she will be leaving after two decades at the company.

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