Paramount Skydance Set to Eliminate Around 2,000 US Jobs – Update
Skydance Paramount will start significant workforce reductions during the week starting 27 October, cutting approximately 2,000 American roles under a expense reduction strategy valued at $2bn led by CEO David Ellison.
The layoffs are a result of the merger of Skydance Media and Paramount Global, finalized in August worth $8.4bn.
More overseas workforce reductions are anticipated, with Paramount Skydance intending to announce all specifics via its third-quarter financial update on 10 November.
Earlier reports stated the firm was looking to reduce from 2,000 to 3,000 roles before the start of November.
As of December 2024, the organization employed nearly 18,600 workers on full-time and part-time contracts and 3,500 contract workers.
Paramount Skydance has not yet commented regarding the report.
