Paramount Skydance Plans to Eliminate Around 2,000 United States Roles – Report
Paramount Skydance is scheduled to start large-scale job cuts the week of 27 October, cutting about 2,000 American roles within a expense reduction strategy totaling $2bn led by new chief executive David Ellison.
The workforce reduction follow the merger of Skydance Media and Paramount Global, which closed in August with a value of $8.4bn.
Additional global layoffs are anticipated, with Paramount Skydance planning to reveal all specifics during its third-quarter financial update scheduled for November 10.
Prior news had indicated the company was looking to eliminate between 2,000 and 3,000 positions by the beginning of next month.
As of December 2024, the organization retained almost 18,600 workers on full-time and part-time contracts along with 3,500 project-based staff.
The company has not yet commented on the matter.