Paramount Skydance Plans to Cut Approximately 2,000 United States Roles – Update
Paramount Skydance will begin large-scale job cuts the week of 27 October, removing approximately 2,000 American roles under a expense reduction strategy totaling $2bn led by new chief executive David Ellison.
The layoffs are a result of the merger between Skydance Media and Paramount Global, which closed during August worth $8.4bn.
More global layoffs are anticipated, as the firm aiming to reveal all specifics via its third-quarter financial update on 10 November.
Previous updates had indicated the company was looking to cut between 2,000 and 3,000 positions by early November.
By December 2024, Paramount retained almost 18,600 workers on full-time and part-time contracts along with 3,500 temporary project employees.
The organization has not yet commented to a request for comment.
