Skydance Paramount Plans to Cut Nearly 2,000 United States Roles – Update
Skydance Paramount will start large-scale job cuts during the week starting 27 October, removing nearly 2,000 US jobs under a budget-saving initiative totaling $2bn overseen by CEO David Ellison.
The workforce reduction follow the combination between Skydance Media and Paramount Global, finalized in August valued at $8.4bn.
More overseas workforce reductions are anticipated, with Paramount Skydance planning to reveal all specifics during its third quarter earnings report set for the 10th of November.
Earlier reports stated the firm planned to eliminate from 2,000 to 3,000 roles by the beginning of next month.
By December 2024, the company retained almost 18,600 workers on full-time and part-time contracts along with 3,500 temporary project employees.
Paramount Skydance did not immediately respond regarding the report.
