Skydance Paramount Will Cut Nearly 2,000 US Jobs – Report
Paramount Skydance is scheduled to start mass layoffs during the week starting 27 October, cutting nearly 2,000 US jobs within a cost-cutting plan valued at $2bn under CEO David Ellison.
The workforce reduction follow the merger of Skydance Media and Paramount Global, which closed in August valued at $8.4bn.
Further global layoffs are expected, with Paramount Skydance planning to disclose complete information via its third-quarter financial update set for the 10th of November.
Earlier reports had indicated that Paramount planned to eliminate between 2,000 to 3,000 positions before the start of November.
Until December 2024, the company employed about 18,600 workers on full-time and part-time contracts plus 3,500 contract workers.
Paramount Skydance did not immediately respond on the matter.
