Skydance Paramount Plans to Cut Approximately 2,000 United States Roles – Report
Paramount Skydance plans to initiate mass layoffs the week of 27 October, removing about 2,000 US jobs under a expense reduction strategy totaling $2bn led by top executive David Ellison.
The layoffs follow the merger between Skydance Media and Paramount Global, which closed this past August worth $8.4bn.
More overseas workforce reductions are expected, as the firm intending to disclose full details via its third quarter earnings report on 10 November.
Prior news stated the company aimed to reduce between 2,000 to 3,000 jobs by the beginning of next month.
By December 2024, Paramount employed nearly 18,600 workers on full-time and part-time contracts and 3,500 contract workers.
The company has not provided a response on the matter.
