Paramount Skydance Will Remove Around 2,000 US Jobs – Update
Paramount Skydance will initiate large-scale job cuts beginning on 27 October, cutting nearly 2,000 positions in the United States as part of a budget-saving initiative valued at $2bn led by CEO David Ellison.
The workforce reduction come after the combination of Skydance Media and Paramount Global, which closed this past August with a value of $8.4bn.
More global layoffs are likely, with the company intending to announce all specifics during its third-quarter financial update set for the 10th of November.
Prior news stated that Paramount aimed to eliminate from 2,000 and 3,000 positions by the beginning of next month.
By December 2024, the company employed about 18,600 full- and part-time employees plus 3,500 project-based staff.
The company has not yet commented to a request for comment.
