Skydance Paramount Will Remove Around 2,000 American Positions – Update
Paramount Skydance will initiate large-scale job cuts beginning on 27 October, removing about 2,000 American roles under a budget-saving initiative totaling $2bn led by new chief executive David Ellison.
The layoffs are a result of the combination of Skydance Media and Paramount Global, finalized in August worth $8.4bn.
Further overseas workforce reductions are anticipated, with Paramount Skydance intending to reveal complete information in its third-quarter financial update set for the 10th of November.
Prior news had indicated that Paramount was looking to reduce from 2,000 to 3,000 roles by the beginning of next month.
Until December 2024, Paramount had nearly 18,600 permanent and temporary staff and 3,500 contract workers.
Paramount Skydance has not provided a response regarding the report.
