Top Gun maker fires bullets: Paramount to lay off 2,000 workers, CEO calls it a step toward success | Business

Paramount Skydance Corporation, the company behind the blockbuster Top Gun: Maverick, has announced plans to cut approximately 2,000 jobs as part of a sweeping restructuring. According to an internal memo sent by CEO David Ellison, the move is intended to streamline the organisation and ensure it remains a strong, future focused company. The first phase already saw around 1,000 US-based roles eliminated, with additional cuts expected soon.

Why Paramount is laying off 2,000 workers

Ellison’s memo explains that after the August merger between Paramount and Skydance Media, redundancies emerged across the expanded enterprise. He wrote that in some areas roles are no longer aligned with the company’s evolving priorities and the new structure designed to strengthen its focus on growth. The layoffs are part of a broader goal to achieve about US$2 billion in cost savings.The company plans to reduce around 2,000 jobs overall, which represents roughly 10 percent of its workforce. The first wave targeted approximately 1,000 positions and the cuts will affect a range of divisions including film, television, streaming and corporate functions, though the company has not released a detailed breakdown.

A wider shift in strategy

Beyond job cuts, Paramount is undertaking several other strategic moves. The company has recently secured major content deals and continues to invest heavily in premium entertainment and franchises. These initiatives signal Ellison’s ambition to revitalise Paramount’s content slate and strengthen its competitive position across global media markets.Ellison’s memo states the company is committed to supporting impacted employees, with HR teams working closely with business unit leaders to provide information on severance, benefits and transition services. He acknowledged the heavy toll of such decisions and described them as never taken lightly.