Paramount Skydance Set to Eliminate Nearly 2,000 United States Roles – Update
Paramount Skydance plans to begin mass layoffs during the week starting 27 October, eliminating about 2,000 positions in the United States as part of a cost-cutting plan valued at $2bn led by top executive David Ellison.
The workforce reduction follow the merger between Skydance Media and Paramount Global, finalized during August with a value of $8.4bn.
More international job cuts are likely, with the company aiming to reveal all specifics in its Q3 financial results on 10 November.
Prior news had indicated the company planned to cut from 2,000 to 3,000 positions by early November.
By December 2024, the company retained about 18,600 permanent and temporary staff along with 3,500 contract workers.
The organization has not provided a response regarding the report.
