Paramount Skydance Set to Cut Approximately 2,000 US Jobs – Update
Paramount Skydance is scheduled to begin large-scale job cuts during the week starting 27 October, eliminating about 2,000 American roles within a expense reduction strategy valued at $2bn led by CEO David Ellison.
The workforce reduction follow the merger of Skydance Media and Paramount Global, finalized this past August with a value of $8.4bn.
More international job cuts are anticipated, with Paramount Skydance planning to reveal all specifics during its Q3 financial results scheduled for November 10.
Previous updates suggested that Paramount aimed to reduce between 2,000 and 3,000 positions by the beginning of next month.
Until December 2024, the company employed nearly 18,600 workers on full-time and part-time contracts plus 3,500 project-based staff.
The company did not immediately respond regarding the report.