Sources: Major Layoffs Expected at BET+ Amid Paramount–Skydance Restructuring
Major layoffs are expected at BET+, according to a source who spoke to The Trade on condition of anonymity because the information has not been made public.
The layoffs are part of the sweeping corporate restructuring under Paramount–Skydance, the newly merged entertainment powerhouse led by David Ellison, which has set a goal of cutting $2 billion in costs following its $8 billion merger finalized this summer.
According to the source, internal notifications could begin as early as Wednesday morning, with company-wide cuts expected the week of October 27. Approximately 2,000 jobs are projected to be eliminated in the U.S., with additional reductions overseas.
While executives have not commented on how specific divisions may be affected, the source says the BET+ division is among those facing significant uncertainty — fueling internal concern that the brand could eventually be shuttered or absorbed into other Paramount–Skydance streaming assets.
A Broader Industry Reset
At an August press conference just hours after the merger officially closed, Ellison — now Chairman and CEO of Paramount Skydance — emphasized his intent to “honor exceptional storytelling while modernizing how we make and deliver content.”
Yet, in the weeks since, the company’s actions have pointed toward a more consolidated, franchise-heavy strategy.
Paramount–Skydance has inked new deals with the UFC and Activision, and recently signed Stranger Things creators The Duffer Brothers to a multiyear exclusive deal. The pivot underscores a shift toward “tentpole IP” and premium franchises, while legacy divisions like BET+, MTV, and Comedy Central face mounting questions about their future roles.
The Stakes for BET+
For many within the company and across the industry, the potential loss or downsizing of BET+ would represent more than another round of layoffs — it would signal the shrinking space for Black storytelling in major corporate ecosystems.
Launched in 2019, BET+ served as a crucial digital extension of the BET brand, providing a platform for series like The Ms. Pat Show, Kingdom Business, and The First Lady of BMF: The Tonesa Welch Story. It also offered a vital home for independent Black creators, many of whom built early careers through the streamer’s original content.
A Developing Story
Paramount–Skydance’s broader layoffs are expected to be disclosed during its third-quarter earnings report on November 10, according to company filings.
For now, uncertainty hangs over employees waiting for clarity in the days ahead. The Trade will continue following developments surrounding the restructuring and its impact on BET+, as well as what these moves may mean for the future of representation in corporate Hollywood.
