Paramount Skydance Will Remove Around 2,000 American Positions – Update
Skydance Paramount is scheduled to initiate significant workforce reductions the week of 27 October, cutting approximately 2,000 American roles as part of a cost-cutting plan worth $2bn under top executive David Ellison.
The layoffs follow the merger of Skydance Media and Paramount Global, finalized this past August with a value of $8.4bn.
Additional overseas workforce reductions are expected, with Paramount Skydance planning to reveal all specifics in its third quarter earnings report on 10 November.
Prior news suggested the company planned to reduce between 2,000 to 3,000 positions by the beginning of next month.
As of December 2024, the company had nearly 18,600 permanent and temporary staff and 3,500 temporary project employees.
The organization did not immediately respond regarding the report.
