Skydance Paramount Set to Cut Nearly 2,000 US Jobs – Report
Skydance Paramount is scheduled to initiate mass layoffs during the week starting 27 October, eliminating approximately 2,000 US jobs as part of a expense reduction strategy worth $2bn under new chief executive David Ellison.
These job cuts are a result of the combination between Skydance Media and Paramount Global, which closed during August with a value of $8.4bn.
More global layoffs are likely, as the firm planning to reveal full details via its Q3 financial results on 10 November.
Earlier reports suggested the company aimed to reduce from 2,000 to 3,000 roles by the beginning of next month.
By December 2024, the organization employed nearly 18,600 workers on full-time and part-time contracts along with 3,500 project-based staff.
Paramount Skydance has not yet commented on the matter.
