Paramount Skydance Plans to Cut Around 2,000 US Jobs – Update
Paramount Skydance is scheduled to initiate significant workforce reductions beginning on 27 October, removing about 2,000 US jobs within a expense reduction strategy valued at $2bn under top executive David Ellison.
The workforce reduction come after the combination of Skydance Media and Paramount Global, completed in August worth $8.4bn.
More global layoffs are expected, with the company aiming to announce full details during its Q3 financial results set for the 10th of November.
Prior news suggested the company planned to cut from 2,000 and 3,000 positions before the start of November.
As of December 2024, the company retained almost 18,600 workers on full-time and part-time contracts and 3,500 contract workers.
The company has not provided a response on the matter.
