Paramount Skydance Will Eliminate Approximately 2,000 American Positions – News
Skydance Paramount is scheduled to start mass layoffs beginning on 27 October, eliminating about 2,000 positions in the United States as part of a cost-cutting plan worth $2bn led by top executive David Ellison.
The workforce reduction follow the merger of Skydance Media and Paramount Global, which closed in August with a value of $8.4bn.
Further overseas workforce reductions are likely, with Paramount Skydance aiming to reveal complete information in its third-quarter financial update scheduled for November 10.
Earlier reports suggested the company planned to reduce between 2,000 and 3,000 roles by early November.
Until December 2024, Paramount employed almost 18,600 permanent and temporary staff plus 3,500 contract workers.
The company has not yet commented regarding the report.
