Skydance Paramount Plans to Cut Nearly 2,000 US Jobs – Update
Skydance Paramount will initiate mass layoffs during the week starting 27 October, eliminating about 2,000 US jobs under a cost-cutting plan valued at $2bn led by new chief executive David Ellison.
The workforce reduction follow the union between Skydance Media and Paramount Global, completed in August worth $8.4bn.
Further international job cuts are expected, with Paramount Skydance intending to disclose all specifics in its third-quarter financial update scheduled for November 10.
Earlier reports suggested that Paramount planned to eliminate between 2,000 and 3,000 positions by early November.
Until December 2024, Paramount retained almost 18,600 permanent and temporary staff and 3,500 temporary project employees.
The company has not yet commented regarding the report.
