Paramount Skydance Set to Eliminate Approximately 2,000 American Positions – Update
Skydance Paramount will begin large-scale job cuts the week of 27 October, eliminating about 2,000 US jobs within a budget-saving initiative worth $2bn under new chief executive David Ellison.
The layoffs are a result of the merger of Skydance Media and Paramount Global, completed this past August worth $8.4bn.
More global layoffs are anticipated, with Paramount Skydance intending to announce full details via its third-quarter financial update on 10 November.
Prior news stated that Paramount aimed to reduce from 2,000 to 3,000 jobs before the start of November.
By December 2024, the organization had about 18,600 workers on full-time and part-time contracts along with 3,500 project-based staff.
The company did not immediately respond on the matter.
