Paramount Skydance Plans to Cut Approximately 2,000 US Jobs – Update
Skydance Paramount is scheduled to begin large-scale job cuts the week of 27 October, eliminating nearly 2,000 American roles under a cost-cutting plan valued at $2bn overseen by new chief executive David Ellison.
The workforce reduction follow the merger of Skydance Media and Paramount Global, completed during August valued at $8.4bn.
More global layoffs are expected, as the firm intending to disclose all specifics via its Q3 financial results scheduled for November 10.
Prior news had indicated the firm was looking to reduce between 2,000 and 3,000 positions by the beginning of next month.
By December 2024, the organization had almost 18,600 full- and part-time employees along with 3,500 contract workers.
Paramount Skydance has not provided a response on the matter.
