Paramount Skydance Set to Remove Nearly 2,000 US Jobs – Report
Paramount Skydance will start significant workforce reductions beginning on 27 October, removing about 2,000 positions in the United States within a expense reduction strategy worth $2bn under CEO David Ellison.
These job cuts follow the merger of Skydance Media and Paramount Global, finalized this past August valued at $8.4bn.
Additional global layoffs are anticipated, as the firm planning to reveal all specifics during its third-quarter financial update scheduled for November 10.
Previous updates suggested the company planned to cut between 2,000 to 3,000 roles by the beginning of next month.
By December 2024, the organization retained about 18,600 full- and part-time employees and 3,500 contract workers.
The company did not immediately respond regarding the report.