Skydance Paramount Will Cut Around 2,000 American Positions – Update
Paramount Skydance is scheduled to start large-scale job cuts during the week starting 27 October, eliminating about 2,000 American roles under a cost-cutting plan valued at $2bn under top executive David Ellison.
The workforce reduction are a result of the union between Skydance Media and Paramount Global, which closed this past August with a value of $8.4bn.
Additional global layoffs are anticipated, with the company planning to announce all specifics via its Q3 financial results scheduled for November 10.
Earlier reports suggested the company was looking to eliminate between 2,000 and 3,000 positions by the beginning of next month.
Until December 2024, the company had nearly 18,600 permanent and temporary staff and 3,500 contract workers.
The company has not yet commented regarding the report.
