Skydance Paramount Will Cut Approximately 2,000 American Positions – Update
Paramount Skydance plans to initiate mass layoffs during the week starting 27 October, removing nearly 2,000 positions in the United States as part of a expense reduction strategy totaling $2bn overseen by top executive David Ellison.
The layoffs come after the merger between Skydance Media and Paramount Global, completed this past August worth $8.4bn.
Further international job cuts are likely, as the firm planning to announce complete information during its third-quarter financial update scheduled for November 10.
Previous updates suggested the firm was looking to cut between 2,000 to 3,000 positions before the start of November.
As of December 2024, Paramount retained nearly 18,600 workers on full-time and part-time contracts and 3,500 contract workers.
The organization has not provided a response to a request for comment.
