Paramount Skydance Plans to Cut Around 2,000 US Jobs – News
Paramount Skydance plans to initiate mass layoffs the week of 27 October, removing nearly 2,000 American roles within a budget-saving initiative worth $2bn led by 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.
More international job cuts are likely, as the firm planning to announce full details via its third quarter earnings report scheduled for November 10.
Prior news had indicated that Paramount aimed to cut between 2,000 and 3,000 jobs by the beginning of next month.
Until December 2024, Paramount had almost 18,600 full- and part-time employees and 3,500 temporary project employees.
The organization did not immediately respond on the matter.
