Paramount Skydance Plans to Eliminate Nearly 2,000 US Jobs – Update
Paramount Skydance will begin large-scale job cuts beginning on 27 October, removing approximately 2,000 positions in the United States within a cost-cutting plan totaling $2bn led by top executive David Ellison.
The layoffs are a result of the merger between Skydance Media and Paramount Global, finalized this past August valued at $8.4bn.
Further overseas workforce reductions are expected, with the company planning to reveal all specifics in its Q3 financial results on 10 November.
Earlier reports had indicated the firm was looking to reduce from 2,000 and 3,000 positions by early November.
By December 2024, Paramount had nearly 18,600 permanent and temporary staff along with 3,500 project-based staff.
The company did not immediately respond to a request for comment.