Paramount Skydance Will Cut Around 2,000 US Jobs – Report
Skydance Paramount is scheduled to begin significant workforce reductions during the week starting 27 October, eliminating nearly 2,000 US jobs within a expense reduction strategy totaling $2bn overseen by new chief executive David Ellison.
The layoffs are a result of the combination of Skydance Media and Paramount Global, finalized this past August valued at $8.4bn.
More international job cuts are likely, with the company planning to disclose full details during its Q3 financial results on 10 November.
Previous updates had indicated that Paramount was looking to reduce from 2,000 and 3,000 positions by the beginning of next month.
Until December 2024, Paramount had almost 18,600 workers on full-time and part-time contracts plus 3,500 contract workers.
The company did not immediately respond to a request for comment.
