Skydance Paramount Will Remove Nearly 2,000 American Positions – Update
Skydance Paramount will begin large-scale job cuts during the week starting 27 October, removing nearly 2,000 positions in the United States as part of a cost-cutting plan valued at $2bn led by top executive David Ellison.
The layoffs are a result of the merger between Skydance Media and Paramount Global, which closed during August worth $8.4bn.
Additional overseas workforce reductions are likely, as the firm planning to reveal full details during its third quarter earnings report scheduled for November 10.
Prior news stated the company was looking to reduce from 2,000 and 3,000 roles by the beginning of next month.
Until December 2024, Paramount employed nearly 18,600 workers on full-time and part-time contracts and 3,500 project-based staff.
The company has not yet commented on the matter.
