Paramount Skydance Plans to Cut Approximately 2,000 American Positions – News
Skydance Paramount will initiate significant workforce reductions beginning on 27 October, cutting nearly 2,000 positions in the United States as part of a expense reduction strategy worth $2bn overseen by new chief executive David Ellison.
The layoffs are a result of the merger of Skydance Media and Paramount Global, which closed this past August valued at $8.4bn.
More overseas workforce reductions are expected, with the company planning to announce all specifics in its third-quarter financial update on 10 November.
Earlier reports stated that Paramount planned to eliminate from 2,000 and 3,000 roles by early November.
Until December 2024, the organization had almost 18,600 workers on full-time and part-time contracts and 3,500 temporary project employees.
The organization did not immediately respond to a request for comment.
