Skydance Paramount Plans to Remove Around 2,000 US Jobs – News
Paramount Skydance is scheduled to start large-scale job cuts the week of 27 October, eliminating nearly 2,000 positions in the United States within a cost-cutting plan valued at $2bn overseen by CEO David Ellison.
The workforce reduction are a result of the union between Skydance Media and Paramount Global, completed in August valued at $8.4bn.
Further global layoffs are anticipated, with Paramount Skydance planning to reveal full details via its third-quarter financial update set for the 10th of November.
Previous updates had indicated the firm planned to eliminate between 2,000 to 3,000 roles by early November.
By December 2024, Paramount retained about 18,600 workers on full-time and part-time contracts and 3,500 contract workers.
Paramount Skydance did not immediately respond to a request for comment.