Skydance Paramount Set to Cut Approximately 2,000 US Jobs – Update
Skydance Paramount plans to initiate mass layoffs beginning on 27 October, eliminating about 2,000 American roles as part of a budget-saving initiative totaling $2bn under top executive David Ellison.
These job cuts come after the combination between Skydance Media and Paramount Global, finalized this past August valued at $8.4bn.
Further overseas workforce reductions are likely, with the company planning to disclose all specifics in its third-quarter financial update scheduled for November 10.
Prior news had indicated the company planned to eliminate between 2,000 and 3,000 positions by the beginning of next month.
By December 2024, Paramount retained about 18,600 full- and part-time employees plus 3,500 project-based staff.
The organization has not provided a response regarding the report.
