Paramount Skydance Set to Eliminate Approximately 2,000 US Jobs – Report
Paramount Skydance is scheduled to initiate large-scale job cuts during the week starting 27 October, removing approximately 2,000 US jobs under a cost-cutting plan worth $2bn led by top executive David Ellison.
The layoffs come after the merger between Skydance Media and Paramount Global, finalized in August worth $8.4bn.
Further global layoffs are expected, as the firm intending to reveal complete information in its Q3 financial results scheduled for November 10.
Previous updates had indicated that Paramount was looking to cut between 2,000 and 3,000 roles by the beginning of next month.
Until December 2024, Paramount employed almost 18,600 full- and part-time employees along with 3,500 project-based staff.
The company has not yet commented regarding the report.