Paramount Skydance Plans to Eliminate Approximately 2,000 United States Roles – Update
Skydance Paramount will begin significant workforce reductions the week of 27 October, removing nearly 2,000 American roles under a expense reduction strategy worth $2bn overseen by new chief executive David Ellison.
The layoffs come after the merger of Skydance Media and Paramount Global, finalized during August valued at $8.4bn.
Further overseas workforce reductions are anticipated, as the firm planning to disclose full details via its third quarter earnings report set for the 10th of November.
Prior news had indicated the company was looking to cut between 2,000 and 3,000 jobs by the beginning of next month.
Until December 2024, the company had about 18,600 permanent and temporary staff along with 3,500 temporary project employees.
Paramount Skydance has not yet commented to a request for comment.