Paramount Skydance Will Eliminate Nearly 2,000 United States Roles – Update
Skydance Paramount will initiate large-scale job cuts during the week starting 27 October, eliminating about 2,000 positions in the United States under a budget-saving initiative totaling $2bn under top executive David Ellison.
These job cuts are a result of the combination of Skydance Media and Paramount Global, completed this past August with a value of $8.4bn.
Additional global layoffs are anticipated, with the company intending to announce full details via its third quarter earnings report on 10 November.
Previous updates suggested the company was looking to cut between 2,000 and 3,000 positions by the beginning of next month.
By December 2024, the company had almost 18,600 full- and part-time employees and 3,500 contract workers.
The company did not immediately respond on the matter.
