Skydance Paramount Set to Eliminate Nearly 2,000 US Jobs – News
Skydance Paramount plans to initiate mass layoffs beginning on 27 October, eliminating approximately 2,000 US jobs under a cost-cutting plan valued at $2bn led by CEO David Ellison.
The layoffs follow the merger between Skydance Media and Paramount Global, which closed this past August with a value of $8.4bn.
Further overseas workforce reductions are expected, as the firm planning to reveal complete information in its third-quarter financial update on 10 November.
Prior news had indicated the firm aimed to reduce between 2,000 to 3,000 roles by the beginning of next month.
Until December 2024, Paramount retained about 18,600 workers on full-time and part-time contracts along with 3,500 project-based staff.
The organization has not yet commented to a request for comment.
