Skydance Paramount Will Eliminate Nearly 2,000 United States Roles – Update
Paramount Skydance will begin mass layoffs during the week starting 27 October, eliminating about 2,000 American roles under a expense reduction strategy valued at $2bn under new chief executive David Ellison.
These job cuts come after the union between Skydance Media and Paramount Global, completed in August with a value of $8.4bn.
Additional overseas workforce reductions are anticipated, with Paramount Skydance planning to announce full details in its third quarter earnings report scheduled for November 10.
Prior news suggested the firm was looking to reduce from 2,000 and 3,000 jobs by early November.
As of December 2024, Paramount retained nearly 18,600 workers on full-time and part-time contracts along with 3,500 project-based staff.
Paramount Skydance has not provided a response on the matter.
