Skydance Paramount Plans to Cut Approximately 2,000 US Jobs – Report
Paramount Skydance plans to begin significant workforce reductions the week of 27 October, eliminating nearly 2,000 positions in the United States within a budget-saving initiative totaling $2bn overseen by CEO David Ellison.
The workforce reduction are a result of the merger between Skydance Media and Paramount Global, which closed this past August with a value of $8.4bn.
Additional overseas workforce reductions are expected, with the company intending to reveal full details during its Q3 financial results scheduled for November 10.
Previous updates had indicated the firm was looking to cut between 2,000 and 3,000 jobs by the beginning of next month.
By December 2024, the company employed nearly 18,600 workers on full-time and part-time contracts plus 3,500 project-based staff.
Paramount Skydance has not provided a response on the matter.
