Paramount Skydance Will Eliminate Nearly 2,000 US Jobs – Report
Skydance Paramount will start large-scale job cuts during the week starting 27 October, removing about 2,000 American roles as part of a expense reduction strategy worth $2bn led by CEO David Ellison.
The layoffs follow the combination between Skydance Media and Paramount Global, which closed this past August with a value of $8.4bn.
Additional global layoffs are expected, with the company aiming to reveal complete information during its third-quarter financial update set for the 10th of November.
Earlier reports stated that Paramount was looking to cut from 2,000 to 3,000 roles before the start of November.
By December 2024, the organization had about 18,600 permanent and temporary staff and 3,500 project-based staff.
The organization has not provided a response on the matter.
