Paramount Skydance Will Cut Around 2,000 American Positions – Report
Skydance Paramount will initiate large-scale job cuts the week of 27 October, cutting approximately 2,000 positions in the United States as part of a budget-saving initiative worth $2bn under new chief executive David Ellison.
The layoffs are a result of the merger of Skydance Media and Paramount Global, completed in August worth $8.4bn.
Further overseas workforce reductions are expected, with Paramount Skydance planning to reveal complete information during its third-quarter financial update scheduled for November 10.
Previous updates suggested that Paramount was looking to reduce between 2,000 and 3,000 jobs by the beginning of next month.
Until December 2024, Paramount had almost 18,600 workers on full-time and part-time contracts and 3,500 project-based staff.
The organization has not provided a response to a request for comment.
