Paramount Skydance Plans to Eliminate Around 2,000 American Positions – Update
Paramount Skydance will initiate mass layoffs the week of 27 October, cutting nearly 2,000 positions in the United States as part of a budget-saving initiative valued at $2bn led by top executive David Ellison.
The workforce reduction follow the union between Skydance Media and Paramount Global, completed this past August worth $8.4bn.
Further overseas workforce reductions are expected, with the company planning to reveal complete information in its third-quarter financial update scheduled for November 10.
Earlier reports stated that Paramount planned to cut from 2,000 to 3,000 roles before the start of November.
As of December 2024, the company had about 18,600 permanent and temporary staff and 3,500 project-based staff.
The organization did not immediately respond regarding the report.