Skydance Paramount Plans to Cut Approximately 2,000 US Jobs – Update
Paramount Skydance will initiate significant workforce reductions during the week starting 27 October, cutting nearly 2,000 US jobs within a budget-saving initiative totaling $2bn under new chief executive David Ellison.
These job cuts follow the union between Skydance Media and Paramount Global, which closed this past August with a value of $8.4bn.
More global layoffs are anticipated, with the company intending to reveal all specifics via its Q3 financial results scheduled for November 10.
Previous updates suggested the firm aimed to reduce between 2,000 and 3,000 jobs before the start of November.
As of December 2024, the company employed almost 18,600 full- and part-time employees plus 3,500 contract workers.
The company did not immediately respond to a request for comment.
