Skydance Paramount Will Eliminate Nearly 2,000 US Jobs – Update
Skydance Paramount is scheduled to start mass layoffs the week of 27 October, removing nearly 2,000 US jobs as part of a cost-cutting plan valued at $2bn under top executive David Ellison.
The workforce reduction are a result of the merger of Skydance Media and Paramount Global, which closed this past August worth $8.4bn.
More overseas workforce reductions are anticipated, with the company planning to reveal full details via its third quarter earnings report scheduled for November 10.
Prior news had indicated the company aimed to cut between 2,000 to 3,000 roles by the beginning of next month.
As of December 2024, the company had nearly 18,600 permanent and temporary staff plus 3,500 temporary project employees.
The organization has not provided a response regarding the report.
