Paramount Skydance Plans to Cut Around 2,000 United States Roles – Report
Paramount Skydance is scheduled to begin large-scale job cuts beginning on 27 October, eliminating nearly 2,000 positions in the United States as part of a expense reduction strategy worth $2bn overseen by new chief executive David Ellison.
The layoffs follow the union between Skydance Media and Paramount Global, completed this past August worth $8.4bn.
Further global layoffs are anticipated, with the company planning to disclose all specifics via its third-quarter financial update scheduled for November 10.
Previous updates suggested that Paramount was looking to cut between 2,000 and 3,000 positions by the beginning of next month.
Until December 2024, the organization retained nearly 18,600 workers on full-time and part-time contracts plus 3,500 contract workers.
The company has not provided a response regarding the report.
