Skydance Paramount Plans to Remove Approximately 2,000 American Positions – Update
Paramount Skydance is scheduled to initiate significant workforce reductions beginning on 27 October, eliminating about 2,000 US jobs as part of a cost-cutting plan worth $2bn under new chief executive David Ellison.
The layoffs follow the combination between Skydance Media and Paramount Global, completed in August worth $8.4bn.
More overseas workforce reductions are likely, with the company planning to reveal full details during its Q3 financial results scheduled for November 10.
Prior news suggested that Paramount aimed to cut between 2,000 and 3,000 roles before the start of November.
Until December 2024, the company retained nearly 18,600 full- and part-time employees along with 3,500 contract workers.
The organization has not yet commented to a request for comment.
