Skydance Paramount Plans to Cut Around 2,000 US Jobs – Update
Paramount Skydance plans to initiate large-scale job cuts during the week starting 27 October, cutting nearly 2,000 positions in the United States as part of a budget-saving initiative valued at $2bn led by new chief executive David Ellison.
The layoffs come after the combination between Skydance Media and Paramount Global, finalized this past August with a value of $8.4bn.
Further overseas workforce reductions are likely, with Paramount Skydance intending to reveal full details via its Q3 financial results on 10 November.
Prior news had indicated the company planned to cut between 2,000 to 3,000 jobs before the start of November.
As of December 2024, Paramount had about 18,600 workers on full-time and part-time contracts along with 3,500 contract workers.
Paramount Skydance did not immediately respond on the matter.
