Paramount Skydance Set to Cut Approximately 2,000 American Positions – News
Skydance Paramount will initiate mass layoffs during the week starting 27 October, cutting about 2,000 American roles within a expense reduction strategy worth $2bn overseen by new chief executive David Ellison.
The layoffs are a result of the combination of Skydance Media and Paramount Global, finalized in August with a value of $8.4bn.
Additional overseas workforce reductions are likely, with Paramount Skydance intending to reveal complete information via its Q3 financial results scheduled for November 10.
Previous updates stated that Paramount aimed to eliminate from 2,000 to 3,000 jobs by the beginning of next month.
Until December 2024, Paramount retained nearly 18,600 workers on full-time and part-time contracts and 3,500 project-based staff.
Paramount Skydance did not immediately respond regarding the report.
