Skydance Paramount Set to Remove Nearly 2,000 United States Roles – Update
Paramount Skydance plans to begin mass layoffs the week of 27 October, cutting about 2,000 US jobs within a expense reduction strategy totaling $2bn overseen by new chief executive David Ellison.
The workforce reduction follow the combination of Skydance Media and Paramount Global, finalized this past August with a value of $8.4bn.
More overseas workforce reductions are expected, as the firm aiming to disclose full details via its Q3 financial results scheduled for November 10.
Earlier reports had indicated the firm aimed to reduce between 2,000 to 3,000 jobs by the beginning of next month.
As of December 2024, Paramount employed almost 18,600 workers on full-time and part-time contracts and 3,500 contract workers.
The organization has not yet commented regarding the report.