Paramount Skydance Plans to Eliminate Nearly 2,000 US Jobs – Update
Skydance Paramount will initiate large-scale job cuts during the week starting 27 October, removing nearly 2,000 US jobs within a cost-cutting plan totaling $2bn under CEO David Ellison.
The workforce reduction are a result of the merger between Skydance Media and Paramount Global, completed during August valued at $8.4bn.
Further global layoffs are expected, with the company aiming to reveal full details via its Q3 financial results on 10 November.
Previous updates stated the company planned to reduce between 2,000 and 3,000 roles before the start of November.
By December 2024, Paramount had almost 18,600 permanent and temporary staff plus 3,500 contract workers.
The organization has not yet commented to a request for comment.
