Skydance Paramount Plans to Cut Around 2,000 American Positions – Update
Paramount Skydance will begin mass layoffs beginning on 27 October, removing about 2,000 positions in the United States under a expense reduction strategy valued at $2bn under new chief executive David Ellison.
The workforce reduction follow the merger between Skydance Media and Paramount Global, finalized this past August with a value of $8.4bn.
Additional overseas workforce reductions are expected, with Paramount Skydance aiming to disclose all specifics in its third-quarter financial update set for the 10th of November.
Prior news suggested that Paramount planned to eliminate between 2,000 and 3,000 roles by early November.
As of December 2024, the organization had almost 18,600 permanent and temporary staff and 3,500 project-based staff.
The organization did not immediately respond on the matter.
