Paramount Skydance Plans to Cut Around 2,000 US Jobs – Report
Skydance Paramount will initiate significant workforce reductions the week of 27 October, eliminating nearly 2,000 positions in the United States under a cost-cutting plan valued at $2bn overseen by top executive David Ellison.
These job cuts come after the merger between Skydance Media and Paramount Global, completed during August worth $8.4bn.
More international job cuts are likely, with Paramount Skydance intending to disclose all specifics in its third-quarter financial update scheduled for November 10.
Previous updates suggested that Paramount aimed to eliminate between 2,000 and 3,000 positions by early November.
By December 2024, the company had about 18,600 workers on full-time and part-time contracts plus 3,500 contract workers.
The company has not yet commented on the matter.
