Paramount Skydance Will Cut Around 2,000 US Jobs – Report
Paramount Skydance plans to initiate mass layoffs beginning on 27 October, cutting approximately 2,000 positions in the United States as part of a cost-cutting plan worth $2bn overseen by new chief executive David Ellison.
The workforce reduction follow the union between Skydance Media and Paramount Global, which closed in August with a value of $8.4bn.
Additional overseas workforce reductions are anticipated, as the firm planning to announce full details in its Q3 financial results on 10 November.
Previous updates suggested the firm aimed to eliminate from 2,000 and 3,000 jobs by the beginning of next month.
By December 2024, Paramount employed nearly 18,600 permanent and temporary staff along with 3,500 project-based staff.
The organization has not provided a response to a request for comment.
