Paramount Skydance Plans to Remove Approximately 2,000 US Jobs – Update
Paramount Skydance is scheduled to start large-scale job cuts beginning on 27 October, removing nearly 2,000 positions in the United States as part of a cost-cutting plan valued at $2bn under CEO David Ellison.
The workforce reduction come after the combination of Skydance Media and Paramount Global, finalized this past August with a value of $8.4bn.
More global layoffs are likely, with Paramount Skydance planning to announce all specifics in its Q3 financial results set for the 10th of November.
Previous updates suggested the firm aimed to cut from 2,000 and 3,000 roles before the start of November.
As of December 2024, the company employed nearly 18,600 permanent and temporary staff and 3,500 temporary project employees.
Paramount Skydance has not yet commented regarding the report.
