Paramount Skydance Plans to Cut Nearly 2,000 US Jobs – Update
Paramount Skydance plans to start large-scale job cuts beginning on 27 October, cutting approximately 2,000 positions in the United States under a expense reduction strategy totaling $2bn under CEO David Ellison.
The layoffs come after the combination between Skydance Media and Paramount Global, finalized in August valued at $8.4bn.
Additional overseas workforce reductions are expected, with Paramount Skydance intending to reveal complete information via its third quarter earnings report scheduled for November 10.
Prior news suggested that Paramount aimed to eliminate from 2,000 and 3,000 jobs before the start of November.
By December 2024, the organization retained nearly 18,600 permanent and temporary staff and 3,500 contract workers.
The company has not yet commented regarding the report.
