Paramount Skydance Will Cut Nearly 2,000 American Positions – News
Paramount Skydance is scheduled to start mass layoffs beginning on 27 October, removing approximately 2,000 American roles under a cost-cutting plan valued at $2bn led by new chief executive David Ellison.
These job cuts are a result of the combination between Skydance Media and Paramount Global, completed in August valued at $8.4bn.
More international job cuts are likely, with Paramount Skydance aiming to announce full details during its third quarter earnings report on 10 November.
Prior news stated that Paramount aimed to cut between 2,000 to 3,000 roles by the beginning of next month.
Until December 2024, the company retained about 18,600 workers on full-time and part-time contracts along with 3,500 temporary project employees.
Paramount Skydance has not provided a response regarding the report.
