Skydance Paramount Set to Cut Approximately 2,000 US Jobs – Update
Paramount Skydance plans to initiate large-scale job cuts during the week starting 27 October, eliminating about 2,000 positions in the United States as part of a expense reduction strategy valued at $2bn under new chief executive David Ellison.
The layoffs are a result of the combination between Skydance Media and Paramount Global, which closed in August worth $8.4bn.
Additional global layoffs are anticipated, with the company aiming to announce full details in its third quarter earnings report on 10 November.
Prior news suggested that Paramount aimed to cut from 2,000 and 3,000 positions by the beginning of next month.
By December 2024, the company employed about 18,600 full- and part-time employees along with 3,500 contract workers.
Paramount Skydance did not immediately respond on the matter.
