Skydance Paramount Set to Remove Nearly 2,000 US Jobs – Update
Skydance Paramount is scheduled to start large-scale job cuts the week of 27 October, removing nearly 2,000 American roles as part of a cost-cutting plan worth $2bn under new chief executive David Ellison.
The layoffs come after the combination between Skydance Media and Paramount Global, finalized in August with a value of $8.4bn.
Further global layoffs are likely, with Paramount Skydance planning to announce all specifics during its Q3 financial results on 10 November.
Prior news suggested the company planned to eliminate between 2,000 to 3,000 roles by early November.
By December 2024, the company employed almost 18,600 workers on full-time and part-time contracts along with 3,500 project-based staff.
The organization has not yet commented to a request for comment.
