Skydance Paramount Set to Remove Approximately 2,000 US Jobs β Update
Paramount Skydance plans to start large-scale job cuts beginning on 27 October, cutting nearly 2,000 positions in the United States under a expense reduction strategy valued at $2bn under new chief executive David Ellison.
The layoffs come after the merger between Skydance Media and Paramount Global, completed during August worth $8.4bn.
More international job cuts are anticipated, as the firm intending to announce complete information in its third-quarter financial update scheduled for November 10.
Prior news suggested the company was looking to cut between 2,000 to 3,000 jobs by the beginning of next month.
As of December 2024, the company retained about 18,600 workers on full-time and part-time contracts plus 3,500 contract workers.
The company has not provided a response regarding the report.
