Paramount Skydance Set to Cut Around 2,000 United States Roles – News
Skydance Paramount plans to begin mass layoffs during the week starting 27 October, removing approximately 2,000 positions in the United States as part of a expense reduction strategy worth $2bn under new chief executive David Ellison.
The workforce reduction are a result of the combination of Skydance Media and Paramount Global, finalized in August with a value of $8.4bn.
Additional international job cuts are likely, with Paramount Skydance intending to reveal complete information via its third-quarter financial update scheduled for November 10.
Previous updates had indicated that Paramount planned to cut between 2,000 and 3,000 positions by early November.
By December 2024, the organization retained about 18,600 workers on full-time and part-time contracts and 3,500 temporary project employees.
The company has not provided a response to a request for comment.
