Paramount Skydance Will Eliminate Approximately 2,000 American Positions – Update
Paramount Skydance plans to begin significant workforce reductions the week of 27 October, cutting nearly 2,000 American roles as part of a expense reduction strategy valued at $2bn led by new chief executive David Ellison.
The layoffs are a result of the union between Skydance Media and Paramount Global, finalized this past August valued at $8.4bn.
Additional global layoffs are expected, as the firm planning to reveal complete information via its third quarter earnings report scheduled for November 10.
Earlier reports suggested that Paramount planned to reduce from 2,000 to 3,000 roles by the beginning of next month.
As of December 2024, the company retained about 18,600 full- and part-time employees and 3,500 project-based staff.
The organization has not yet commented on the matter.
