Paramount Skydance Set to Remove Nearly 2,000 American Positions – Update
Paramount Skydance will start significant workforce reductions the week of 27 October, cutting approximately 2,000 US jobs under a expense reduction strategy worth $2bn under top executive David Ellison.
The layoffs follow the merger between Skydance Media and Paramount Global, which closed during August with a value of $8.4bn.
Additional international job cuts are anticipated, with the company intending to announce full details in its third quarter earnings report scheduled for November 10.
Previous updates suggested the company was looking to reduce between 2,000 to 3,000 positions by early November.
By December 2024, the company had nearly 18,600 workers on full-time and part-time contracts plus 3,500 project-based staff.
The company did not immediately respond on the matter.
