Skydance Paramount Set to Cut Approximately 2,000 US Jobs – Report
Paramount Skydance plans to begin significant workforce reductions beginning on 27 October, removing nearly 2,000 positions in the United States under a cost-cutting plan worth $2bn overseen by top executive David Ellison.
The layoffs are a result of the merger of Skydance Media and Paramount Global, finalized during August with a value of $8.4bn.
More global layoffs are expected, as the firm aiming to announce all specifics in its Q3 financial results scheduled for November 10.
Prior news had indicated the firm aimed to reduce between 2,000 to 3,000 roles by the beginning of next month.
As of December 2024, Paramount had nearly 18,600 permanent and temporary staff and 3,500 contract workers.
The organization has not provided a response to a request for comment.
