Skydance Paramount Plans to Eliminate Nearly 2,000 US Jobs – News
Skydance Paramount is scheduled to initiate large-scale job cuts beginning on 27 October, cutting nearly 2,000 American roles as part of a cost-cutting plan totaling $2bn overseen by new chief executive David Ellison.
The workforce reduction are a result of the merger of Skydance Media and Paramount Global, which closed this past August valued at $8.4bn.
Additional global layoffs are likely, with Paramount Skydance intending to reveal complete information via its Q3 financial results scheduled for November 10.
Earlier reports stated the firm was looking to eliminate from 2,000 and 3,000 positions by the beginning of next month.
By December 2024, the company retained almost 18,600 workers on full-time and part-time contracts along with 3,500 project-based staff.
The company has not yet commented on the matter.
