Skydance Paramount Will Cut Around 2,000 American Positions – Update
Paramount Skydance plans to initiate large-scale job cuts during the week starting 27 October, removing about 2,000 American roles under a budget-saving initiative valued at $2bn under top executive David Ellison.
The layoffs come after the union of Skydance Media and Paramount Global, completed this past August with a value of $8.4bn.
More overseas workforce reductions are expected, with the company intending to announce full details via its third-quarter financial update scheduled for November 10.
Previous updates had indicated the firm aimed to eliminate from 2,000 and 3,000 roles by the beginning of next month.
Until December 2024, Paramount employed almost 18,600 workers on full-time and part-time contracts and 3,500 temporary project employees.
The company has not yet commented regarding the report.