Skydance Paramount Plans to Eliminate Nearly 2,000 American Positions – Report
Paramount Skydance plans to initiate significant workforce reductions the week of 27 October, cutting approximately 2,000 positions in the United States within a cost-cutting plan totaling $2bn led by CEO David Ellison.
The layoffs follow the combination between Skydance Media and Paramount Global, finalized in August valued at $8.4bn.
Further overseas workforce reductions are anticipated, as the firm aiming to announce complete information during its Q3 financial results scheduled for November 10.
Earlier reports suggested that Paramount was looking to cut from 2,000 to 3,000 jobs before the start of November.
Until December 2024, Paramount had about 18,600 full- and part-time employees plus 3,500 temporary project employees.
The organization has not provided a response on the matter.
