Paramount Skydance Will Remove Nearly 2,000 American Positions – Report
Skydance Paramount will initiate mass layoffs the week of 27 October, cutting nearly 2,000 American roles as part of a expense reduction strategy worth $2bn under new chief executive David Ellison.
These job cuts are a result of the union between Skydance Media and Paramount Global, which closed in August valued at $8.4bn.
More global layoffs are likely, with Paramount Skydance aiming to announce complete information in its Q3 financial results scheduled for November 10.
Earlier reports stated that Paramount was looking to cut from 2,000 and 3,000 jobs by early November.
As of December 2024, the company retained almost 18,600 workers on full-time and part-time contracts plus 3,500 temporary project employees.
The company did not immediately respond regarding the report.
