Paramount Skydance Plans to Eliminate Around 2,000 United States Roles – Update
Paramount Skydance will start mass layoffs during the week starting 27 October, eliminating nearly 2,000 American roles under a cost-cutting plan totaling $2bn led by new chief executive David Ellison.
The workforce reduction are a result of the union of Skydance Media and Paramount Global, completed in August with a value of $8.4bn.
Additional global layoffs are expected, as the firm planning to announce all specifics in its Q3 financial results on 10 November.
Previous updates suggested the company was looking to cut between 2,000 and 3,000 positions by early November.
By December 2024, the organization employed about 18,600 permanent and temporary staff along with 3,500 project-based staff.
The organization has not yet commented to a request for comment.
