Paramount Skydance Plans to Remove Nearly 2,000 US Jobs – Report
Skydance Paramount plans to initiate large-scale job cuts the week of 27 October, cutting about 2,000 US jobs under a budget-saving initiative worth $2bn overseen by new chief executive David Ellison.
The workforce reduction are a result of the combination of Skydance Media and Paramount Global, which closed during August with a value of $8.4bn.
Further overseas workforce reductions are expected, with Paramount Skydance intending to disclose full details during its third quarter earnings report scheduled for November 10.
Previous updates stated the firm was looking to eliminate from 2,000 to 3,000 positions by early November.
By December 2024, the company employed nearly 18,600 workers on full-time and part-time contracts plus 3,500 contract workers.
The organization has not yet commented on the matter.
