Skydance Paramount Will Remove Approximately 2,000 American Positions – Update
Skydance Paramount plans to start significant workforce reductions the week of 27 October, eliminating nearly 2,000 positions in the United States within a expense reduction strategy worth $2bn led by top executive David Ellison.
These job cuts follow the combination of Skydance Media and Paramount Global, completed in August with a value of $8.4bn.
Additional global layoffs are anticipated, as the firm planning to announce all specifics in its third quarter earnings report on 10 November.
Previous updates had indicated that Paramount aimed to reduce from 2,000 to 3,000 jobs by the beginning of next month.
Until December 2024, the organization retained nearly 18,600 permanent and temporary staff and 3,500 contract workers.
The company did not immediately respond on the matter.
