Paramount Skydance Plans to Remove Around 2,000 United States Roles – Update
Skydance Paramount will initiate large-scale job cuts beginning on 27 October, eliminating nearly 2,000 positions in the United States within a expense reduction strategy totaling $2bn under CEO David Ellison.
The workforce reduction are a result of the combination between Skydance Media and Paramount Global, which closed during August worth $8.4bn.
Further global layoffs are expected, with Paramount Skydance intending to reveal all specifics during its third quarter earnings report scheduled for November 10.
Earlier reports stated the firm aimed to cut from 2,000 to 3,000 positions by the beginning of next month.
By December 2024, the organization had about 18,600 permanent and temporary staff along with 3,500 temporary project employees.
Paramount Skydance has not provided a response on the matter.
