Skydance Paramount Plans to Remove Approximately 2,000 American Positions – Update
Paramount Skydance will initiate large-scale job cuts the week of 27 October, cutting approximately 2,000 American roles under a budget-saving initiative worth $2bn overseen by top executive David Ellison.
The layoffs are a result of the combination between Skydance Media and Paramount Global, finalized this past August with a value of $8.4bn.
Further overseas workforce reductions are likely, with the company intending to announce full details in its third quarter earnings report scheduled for November 10.
Prior news suggested that Paramount aimed to cut between 2,000 and 3,000 roles by the beginning of next month.
By December 2024, the organization retained nearly 18,600 full- and part-time employees and 3,500 project-based staff.
The company has not provided a response regarding the report.
