Paramount Skydance Plans to Eliminate Nearly 2,000 American Positions – Update
Skydance Paramount will begin mass layoffs the week of 27 October, removing nearly 2,000 US jobs as part of a expense reduction strategy worth $2bn led by top executive David Ellison.
These job cuts are a result of the combination of Skydance Media and Paramount Global, which closed this past August worth $8.4bn.
Further overseas workforce reductions are expected, with the company aiming to announce all specifics during its Q3 financial results set for the 10th of November.
Previous updates had indicated the company was looking to cut from 2,000 and 3,000 roles by early November.
By December 2024, the company had about 18,600 full- and part-time employees along with 3,500 temporary project employees.
The company did not immediately respond regarding the report.
