Paramount Skydance Set to Eliminate Approximately 2,000 United States Roles – Report
Skydance Paramount will initiate mass layoffs during the week starting 27 October, removing approximately 2,000 positions in the United States as part of a expense reduction strategy valued at $2bn under CEO David Ellison.
The layoffs follow the merger between Skydance Media and Paramount Global, finalized this past August with a value of $8.4bn.
Additional international job cuts are likely, as the firm intending to reveal complete information during its third quarter earnings report set for the 10th of November.
Earlier reports had indicated the firm planned to cut between 2,000 and 3,000 jobs by the beginning of next month.
By December 2024, the company retained about 18,600 workers on full-time and part-time contracts plus 3,500 temporary project employees.
The organization has not yet commented to a request for comment.
