Skydance Paramount Will Eliminate Approximately 2,000 United States Roles – Update
Paramount Skydance plans to start mass layoffs beginning on 27 October, cutting approximately 2,000 positions in the United States within a expense reduction strategy valued at $2bn overseen by top executive David Ellison.
These job cuts come after the merger between Skydance Media and Paramount Global, completed this past August worth $8.4bn.
Further international job cuts are expected, with Paramount Skydance planning to disclose all specifics in its third-quarter financial update scheduled for November 10.
Prior news stated the firm aimed to reduce from 2,000 to 3,000 positions by the beginning of next month.
Until December 2024, the company retained nearly 18,600 workers on full-time and part-time contracts plus 3,500 project-based staff.
The organization did not immediately respond on the matter.
