Paramount Skydance Will Remove Around 2,000 US Jobs – Update
Skydance Paramount will initiate large-scale job cuts during the week starting 27 October, eliminating nearly 2,000 positions in the United States within a cost-cutting plan totaling $2bn overseen by new chief executive David Ellison.
These job cuts come after the combination of Skydance Media and Paramount Global, completed this past August with a value of $8.4bn.
Further overseas workforce reductions are likely, with Paramount Skydance planning to reveal full details via its third quarter earnings report scheduled for November 10.
Earlier reports had indicated the firm was looking to eliminate from 2,000 and 3,000 positions by early November.
As of December 2024, the company had about 18,600 permanent and temporary staff along with 3,500 project-based staff.
The organization did not immediately respond regarding the report.