Skydance Paramount Set to Cut Nearly 2,000 United States Roles – Update
Skydance Paramount plans to initiate mass layoffs the week of 27 October, removing nearly 2,000 positions in the United States as part of a cost-cutting plan worth $2bn overseen by new chief executive David Ellison.
These job cuts come after the merger between Skydance Media and Paramount Global, completed in August with a value of $8.4bn.
Further global layoffs are anticipated, as the firm aiming to reveal complete information in its third quarter earnings report scheduled for November 10.
Previous updates had indicated the company aimed to reduce from 2,000 to 3,000 jobs by early November.
By December 2024, the organization retained almost 18,600 full- and part-time employees and 3,500 contract workers.
The company has not yet commented to a request for comment.