Paramount Skydance Will Cut Nearly 2,000 US Jobs – Update
Paramount Skydance is scheduled to start large-scale job cuts beginning on 27 October, removing approximately 2,000 positions in the United States under a cost-cutting plan totaling $2bn under top executive David Ellison.
The layoffs are a result of the union between Skydance Media and Paramount Global, completed during August with a value of $8.4bn.
More global layoffs are likely, with the company planning to announce complete information during its third quarter earnings report on 10 November.
Earlier reports had indicated the company aimed to eliminate from 2,000 to 3,000 roles by early November.
By December 2024, Paramount employed about 18,600 permanent and temporary staff and 3,500 temporary project employees.
Paramount Skydance has not yet commented to a request for comment.
