Paramount Skydance Plans to Eliminate Nearly 2,000 American Positions – Update
Paramount Skydance plans to begin significant workforce reductions the week of 27 October, cutting approximately 2,000 US jobs within a expense reduction strategy valued at $2bn overseen by new chief executive David Ellison.
The workforce reduction are a result of the merger between Skydance Media and Paramount Global, finalized during August worth $8.4bn.
Additional global layoffs are likely, as the firm planning to reveal all specifics via its Q3 financial results scheduled for November 10.
Previous updates had indicated the firm aimed to eliminate from 2,000 and 3,000 positions before the start of November.
Until December 2024, the company employed almost 18,600 workers on full-time and part-time contracts along with 3,500 temporary project employees.
The company did not immediately respond regarding the report.
