Paramount Skydance Set to Remove Nearly 2,000 US Jobs – Update
Skydance Paramount plans to start significant workforce reductions beginning on 27 October, cutting approximately 2,000 US jobs within a cost-cutting plan valued at $2bn led by top executive David Ellison.
The workforce reduction come after the merger of Skydance Media and Paramount Global, completed in August with a value of $8.4bn.
Additional international job cuts are expected, as the firm aiming to reveal all specifics during its Q3 financial results scheduled for November 10.
Prior news had indicated the firm was looking to reduce between 2,000 to 3,000 roles by the beginning of next month.
By December 2024, the organization employed about 18,600 permanent and temporary staff along with 3,500 contract workers.
Paramount Skydance did not immediately respond to a request for comment.
