Paramount Skydance Will Cut Approximately 2,000 American Positions – Update
Skydance Paramount will begin mass layoffs beginning on 27 October, removing approximately 2,000 American roles under a budget-saving initiative worth $2bn under CEO David Ellison.
The workforce reduction come after the combination between Skydance Media and Paramount Global, completed in August worth $8.4bn.
Additional global layoffs are likely, with Paramount Skydance aiming to announce full details in its Q3 financial results set for the 10th of November.
Previous updates had indicated the company aimed to reduce between 2,000 to 3,000 jobs before the start of November.
By December 2024, the organization retained about 18,600 full- and part-time employees plus 3,500 contract workers.
Paramount Skydance has not yet commented regarding the report.
