Paramount Skydance Plans to Eliminate Approximately 2,000 US Jobs – Update
Skydance Paramount plans to initiate large-scale job cuts the week of 27 October, removing approximately 2,000 American roles under a cost-cutting plan valued at $2bn under new chief executive David Ellison.
The workforce reduction are a result of the merger of Skydance Media and Paramount Global, completed during August with a value of $8.4bn.
Additional global layoffs are expected, with the company intending to disclose complete information in its third quarter earnings report on 10 November.
Previous updates had indicated that Paramount planned to eliminate between 2,000 to 3,000 positions by early November.
As of December 2024, the organization employed about 18,600 permanent and temporary staff plus 3,500 temporary project employees.
The company has not provided a response to a request for comment.
