Paramount Skydance Plans to Remove Nearly 2,000 US Jobs – Update
Skydance Paramount is scheduled to start mass layoffs beginning on 27 October, cutting nearly 2,000 positions in the United States within a budget-saving initiative totaling $2bn led by new chief executive David Ellison.
These job cuts follow the combination between Skydance Media and Paramount Global, completed this past August worth $8.4bn.
More overseas workforce reductions are anticipated, with the company planning to reveal complete information via its third quarter earnings report scheduled for November 10.
Earlier reports suggested the company aimed to reduce from 2,000 to 3,000 jobs by the beginning of next month.
Until December 2024, the organization retained nearly 18,600 full- and part-time employees along with 3,500 project-based staff.
Paramount Skydance did not immediately respond to a request for comment.
