Skydance Paramount Plans to Eliminate Nearly 2,000 American Positions – Update
Paramount Skydance plans to initiate large-scale job cuts during the week starting 27 October, removing approximately 2,000 positions in the United States within a expense reduction strategy valued at $2bn overseen by CEO David Ellison.
The workforce reduction follow the merger of Skydance Media and Paramount Global, which closed in August worth $8.4bn.
Further global layoffs are likely, with the company intending to disclose all specifics during its third quarter earnings report on 10 November.
Prior news stated the firm was looking to eliminate between 2,000 to 3,000 roles by early November.
By December 2024, the organization employed nearly 18,600 workers on full-time and part-time contracts and 3,500 temporary project employees.
The company has not yet commented on the matter.
