Skydance Paramount Will Cut Around 2,000 US Jobs – Update
Paramount Skydance is scheduled to initiate mass layoffs the week of 27 October, cutting nearly 2,000 American roles within a budget-saving initiative worth $2bn under new chief executive David Ellison.
The layoffs come after the merger between Skydance Media and Paramount Global, completed this past August with a value of $8.4bn.
Additional overseas workforce reductions are anticipated, as the firm intending to announce complete information via its third quarter earnings report set for the 10th of November.
Previous updates suggested that Paramount aimed to cut from 2,000 and 3,000 jobs before the start of November.
Until December 2024, the company had nearly 18,600 permanent and temporary staff plus 3,500 contract workers.
Paramount Skydance did not immediately respond to a request for comment.