Skydance Paramount Plans to Remove Around 2,000 US Jobs – Update
Skydance Paramount is scheduled to initiate large-scale job cuts the week of 27 October, eliminating about 2,000 US jobs within a expense reduction strategy worth $2bn led by new chief executive David Ellison.
The layoffs are a result of the merger of Skydance Media and Paramount Global, finalized in August with a value of $8.4bn.
More overseas workforce reductions are likely, with the company aiming to announce complete information during its third-quarter financial update scheduled for November 10.
Earlier reports stated the firm planned to reduce between 2,000 and 3,000 roles by early November.
As of December 2024, the organization retained about 18,600 workers on full-time and part-time contracts along with 3,500 temporary project employees.
The organization has not yet commented regarding the report.