Skydance Paramount Will Remove Nearly 2,000 American Positions – News
Paramount Skydance is scheduled to initiate mass layoffs beginning on 27 October, eliminating about 2,000 American roles under a cost-cutting plan valued at $2bn overseen by CEO David Ellison.
The workforce reduction follow the combination between Skydance Media and Paramount Global, which closed this past August with a value of $8.4bn.
Additional overseas workforce reductions are anticipated, with the company planning to announce complete information during its third-quarter financial update on 10 November.
Earlier reports suggested the firm aimed to cut from 2,000 to 3,000 jobs by the beginning of next month.
Until December 2024, the company had nearly 18,600 workers on full-time and part-time contracts and 3,500 temporary project employees.
The company has not provided a response to a request for comment.
