Paramount Skydance Plans to Cut Approximately 2,000 United States Roles – Report
Skydance Paramount is scheduled to begin large-scale job cuts the week of 27 October, eliminating approximately 2,000 American roles as part of a budget-saving initiative valued at $2bn overseen by CEO David Ellison.
The workforce reduction come after the merger of Skydance Media and Paramount Global, finalized during August worth $8.4bn.
Additional global layoffs are expected, as the firm planning to announce full details via its third-quarter financial update scheduled for November 10.
Prior news suggested that Paramount planned to cut from 2,000 and 3,000 positions by the beginning of next month.
Until December 2024, the company employed almost 18,600 full- and part-time employees plus 3,500 temporary project employees.
The company has not yet commented on the matter.