Skydance Paramount Set to Eliminate Approximately 2,000 US Jobs – Update
Paramount Skydance plans to begin significant workforce reductions beginning on 27 October, removing about 2,000 US jobs under a expense reduction strategy worth $2bn overseen by CEO David Ellison.
These job cuts come after the merger between Skydance Media and Paramount Global, which closed in August worth $8.4bn.
Additional global layoffs are expected, with Paramount Skydance intending to disclose complete information during its third quarter earnings report scheduled for November 10.
Previous updates had indicated the firm was looking to eliminate from 2,000 to 3,000 roles by early November.
As of December 2024, the company had nearly 18,600 workers on full-time and part-time contracts and 3,500 contract workers.
The organization has not yet commented on the matter.
