Paramount Skydance Plans to Eliminate Approximately 2,000 US Jobs – Update
Skydance Paramount plans to begin significant workforce reductions during the week starting 27 October, removing about 2,000 positions in the United States as part of a cost-cutting plan worth $2bn led by CEO David Ellison.
The workforce reduction are a result of the merger between Skydance Media and Paramount Global, which closed during August worth $8.4bn.
Further overseas workforce reductions are likely, with the company intending to disclose all specifics during its third-quarter financial update scheduled for November 10.
Earlier reports stated the company aimed to cut between 2,000 to 3,000 positions by early November.
By December 2024, the organization had almost 18,600 permanent and temporary staff plus 3,500 temporary project employees.
Paramount Skydance did not immediately respond on the matter.
