Skydance Paramount Set to Eliminate Around 2,000 American Positions – Update
Skydance Paramount plans to initiate mass layoffs during the week starting 27 October, cutting about 2,000 US jobs as part of a expense reduction strategy worth $2bn led by CEO David Ellison.
The layoffs are a result of the merger between Skydance Media and Paramount Global, completed during August with a value of $8.4bn.
Additional international job cuts are expected, with the company planning to announce all specifics during its third-quarter financial update scheduled for November 10.
Previous updates suggested that Paramount was looking to eliminate between 2,000 and 3,000 jobs by early November.
As of December 2024, the company retained about 18,600 full- and part-time employees and 3,500 temporary project employees.
Paramount Skydance has not provided a response on the matter.
