Paramount Skydance Plans to Remove Around 2,000 United States Roles – Update
Paramount Skydance will begin large-scale job cuts during the week starting 27 October, cutting about 2,000 American roles as part of a budget-saving initiative worth $2bn led by top executive David Ellison.
The workforce reduction follow the merger of Skydance Media and Paramount Global, completed during August with a value of $8.4bn.
Further global layoffs are anticipated, with the company aiming to announce full details via its Q3 financial results scheduled for November 10.
Earlier reports stated that Paramount aimed to reduce between 2,000 to 3,000 jobs by the beginning of next month.
As of December 2024, Paramount had about 18,600 permanent and temporary staff plus 3,500 contract workers.
The company did not immediately respond regarding the report.
