Skydance Paramount Plans to Cut Nearly 2,000 US Jobs – Update
Skydance Paramount plans to start significant workforce reductions during the week starting 27 October, removing nearly 2,000 positions in the United States under a budget-saving initiative totaling $2bn under new chief executive David Ellison.
These job cuts come after the combination between Skydance Media and Paramount Global, which closed during August with a value of $8.4bn.
More global layoffs are likely, as the firm intending to disclose complete information during its third quarter earnings report scheduled for November 10.
Previous updates had indicated the firm was looking to cut between 2,000 to 3,000 roles by the beginning of next month.
By December 2024, the company retained about 18,600 workers on full-time and part-time contracts and 3,500 contract workers.
The company has not provided a response on the matter.
