Skydance Paramount Set to Eliminate Approximately 2,000 US Jobs – Update
Skydance Paramount is scheduled to initiate mass layoffs during the week starting 27 October, cutting about 2,000 positions in the United States under a cost-cutting plan worth $2bn under CEO David Ellison.
These job cuts come after the merger between Skydance Media and Paramount Global, completed in August worth $8.4bn.
Further overseas workforce reductions are anticipated, with Paramount Skydance planning to disclose all specifics in its third quarter earnings report on 10 November.
Prior news had indicated the firm aimed to eliminate from 2,000 and 3,000 jobs before the start of November.
As of December 2024, the organization retained nearly 18,600 workers on full-time and part-time contracts plus 3,500 project-based staff.
The organization did not immediately respond to a request for comment.