Paramount Skydance Will Cut Approximately 2,000 US Jobs – News
Paramount Skydance plans to begin large-scale job cuts during the week starting 27 October, removing about 2,000 positions in the United States within a expense reduction strategy valued at $2bn under new chief executive David Ellison.
The layoffs are a result of the union of Skydance Media and Paramount Global, which closed in August worth $8.4bn.
Additional overseas workforce reductions are anticipated, as the firm intending to disclose all specifics during 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 positions by the beginning of next month.
As of December 2024, the company had almost 18,600 workers on full-time and part-time contracts along with 3,500 temporary project employees.
The company has not provided a response to a request for comment.
