Paramount Skydance Plans to Eliminate Around 2,000 US Jobs – Update
Skydance Paramount plans to begin mass layoffs during the week starting 27 October, cutting nearly 2,000 positions in the United States within a budget-saving initiative worth $2bn overseen by top executive David Ellison.
The layoffs come after the merger of Skydance Media and Paramount Global, which closed during August valued at $8.4bn.
More global layoffs are likely, with the company aiming to announce complete information via its Q3 financial results set for the 10th of November.
Earlier reports suggested that Paramount aimed to reduce between 2,000 to 3,000 positions before the start of November.
Until December 2024, the organization retained nearly 18,600 permanent and temporary staff plus 3,500 contract workers.
The organization has not yet commented regarding the report.
