Skydance Paramount Will Cut Nearly 2,000 United States Roles – Update
Paramount Skydance is scheduled to start mass layoffs during the week starting 27 October, removing about 2,000 positions in the United States under a cost-cutting plan valued at $2bn overseen by new chief executive David Ellison.
These job cuts are a result of the merger of Skydance Media and Paramount Global, completed in August worth $8.4bn.
Further global layoffs are anticipated, with Paramount Skydance intending to announce full details during its third-quarter financial update scheduled for November 10.
Prior news had indicated the company aimed to reduce from 2,000 and 3,000 positions by the beginning of next month.
Until December 2024, the company employed almost 18,600 full- and part-time employees and 3,500 temporary project employees.
The organization has not provided a response to a request for comment.
