Paramount Skydance Will Remove Nearly 2,000 US Jobs – Report
Paramount Skydance plans to begin mass layoffs beginning on 27 October, cutting about 2,000 American roles under a budget-saving initiative valued at $2bn led by top executive David Ellison.
The layoffs are a result of the union of Skydance Media and Paramount Global, completed during August with a value of $8.4bn.
Additional overseas workforce reductions are likely, with Paramount Skydance planning to reveal all specifics via its third quarter earnings report scheduled for November 10.
Earlier reports suggested that Paramount aimed to reduce between 2,000 and 3,000 roles before the start of November.
By December 2024, the organization had nearly 18,600 full- and part-time employees plus 3,500 temporary project employees.
The organization did not immediately respond on the matter.