Skydance Paramount Set to Eliminate Approximately 2,000 American Positions – News
Skydance Paramount plans to initiate large-scale job cuts during the week starting 27 October, cutting approximately 2,000 US jobs under a cost-cutting plan valued at $2bn led by CEO David Ellison.
The layoffs come after the combination between Skydance Media and Paramount Global, completed during August worth $8.4bn.
Additional global layoffs are likely, with the company planning to disclose complete information during its third-quarter financial update scheduled for November 10.
Previous updates had indicated the company was looking to reduce from 2,000 to 3,000 roles by the beginning of next month.
By December 2024, the organization had about 18,600 full- and part-time employees along with 3,500 project-based staff.
Paramount Skydance did not immediately respond regarding the report.