Paramount Skydance Will Remove Nearly 2,000 US Jobs – Update
Paramount Skydance plans to initiate mass layoffs the week of 27 October, eliminating nearly 2,000 US jobs within a cost-cutting plan worth $2bn led by top executive David Ellison.
The layoffs come after the combination between Skydance Media and Paramount Global, completed during August worth $8.4bn.
Further global layoffs are anticipated, with Paramount Skydance aiming to disclose complete information via its third-quarter financial update scheduled for November 10.
Previous updates had indicated the company planned to reduce between 2,000 and 3,000 roles before the start of November.
By December 2024, the organization retained nearly 18,600 permanent and temporary staff and 3,500 project-based staff.
Paramount Skydance has not yet commented to a request for comment.