09:21 AM EDT, 10/29/2025 (MT Newswires) -- Paramount Skydance ( PSKY ) has started a round of layoffs involving 1,000 employees as part of a plan to cut $2 billion in costs following its merger with Skydance Media, with more to come at a later date, Bloomberg reported Wednesday, citing a company memo.

The company, which is also looking to cut back on programming at its cable networks, said it targets to execute the job cuts quickly, the report said.

Paramount did not immediately reply to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)