Paramount Skydance Set to Cut Nearly 2,000 US Jobs – Update
Skydance Paramount will initiate mass layoffs during the week starting 27 October, cutting about 2,000 positions in the United States within a cost-cutting plan totaling $2bn led by CEO David Ellison.
These job cuts follow the merger between Skydance Media and Paramount Global, which closed this past August with a value of $8.4bn.
More overseas workforce reductions are expected, as the firm intending to announce full details during its third quarter earnings report scheduled for November 10.
Previous updates had indicated the firm was looking to reduce from 2,000 and 3,000 positions by the beginning of next month.
By December 2024, the company had about 18,600 workers on full-time and part-time contracts along with 3,500 temporary project employees.
The company did not immediately respond regarding the report.
