Skydance Paramount Plans to Eliminate Nearly 2,000 American Positions – Update
Skydance Paramount is scheduled to initiate mass layoffs the week of 27 October, eliminating approximately 2,000 positions in the United States under a budget-saving initiative worth $2bn under new chief executive David Ellison.
These job cuts come after the merger of Skydance Media and Paramount Global, completed in August valued at $8.4bn.
Additional global layoffs are likely, with Paramount Skydance planning to disclose full details in its third quarter earnings report set for the 10th of November.
Prior news suggested the firm aimed to reduce from 2,000 and 3,000 positions by early November.
As of December 2024, Paramount employed nearly 18,600 permanent and temporary staff along with 3,500 temporary project employees.
The company did not immediately respond to a request for comment.
