Paramount Skydance Set to Eliminate Nearly 2,000 United States Roles – Report
Skydance Paramount plans to start significant workforce reductions during the week starting 27 October, cutting nearly 2,000 American roles within a budget-saving initiative valued at $2bn led by new chief executive David Ellison.
The layoffs follow the merger of Skydance Media and Paramount Global, which closed this past August with a value of $8.4bn.
More international job cuts are expected, with Paramount Skydance aiming to disclose complete information via its third quarter earnings report scheduled for November 10.
Earlier reports had indicated that Paramount aimed to reduce between 2,000 to 3,000 positions by early November.
As of December 2024, the organization had nearly 18,600 workers on full-time and part-time contracts plus 3,500 temporary project employees.
The company has not yet commented on the matter.