Paramount Skydance Plans to Cut Approximately 2,000 American Positions – Report
Paramount Skydance will begin mass layoffs the week of 27 October, cutting approximately 2,000 US jobs under a budget-saving initiative valued at $2bn overseen by new chief executive David Ellison.
The layoffs are a result of the combination between Skydance Media and Paramount Global, completed during August valued at $8.4bn.
Additional global layoffs are expected, with Paramount Skydance intending to reveal all specifics via its third-quarter financial update scheduled for November 10.
Earlier reports had indicated the firm was looking to cut from 2,000 and 3,000 roles by the beginning of next month.
As of December 2024, the organization had nearly 18,600 workers on full-time and part-time contracts and 3,500 contract workers.
The organization did not immediately respond to a request for comment.
