Paramount Skydance Plans to Eliminate Approximately 2,000 US Jobs – Update
Skydance Paramount is scheduled to begin mass layoffs during the week starting 27 October, eliminating approximately 2,000 positions in the United States under a cost-cutting plan worth $2bn overseen by top executive David Ellison.
The workforce reduction come after the combination between Skydance Media and Paramount Global, which closed this past August with a value of $8.4bn.
Additional overseas workforce reductions are expected, with Paramount Skydance planning to announce complete information via its Q3 financial results on 10 November.
Previous updates stated the company planned to eliminate between 2,000 and 3,000 positions before the start of November.
By December 2024, Paramount employed about 18,600 workers on full-time and part-time contracts plus 3,500 project-based staff.
Paramount Skydance has not yet commented to a request for comment.