Paramount Skydance Set to Eliminate Around 2,000 United States Roles – Update
Paramount Skydance is scheduled to initiate large-scale job cuts during the week starting 27 October, removing nearly 2,000 American roles as part of a budget-saving initiative worth $2bn overseen by new chief executive David Ellison.
The workforce reduction are a result of the combination between Skydance Media and Paramount Global, finalized in August with a value of $8.4bn.
More overseas workforce reductions are expected, with the company intending to reveal complete information during its third quarter earnings report scheduled for November 10.
Earlier reports had indicated the company aimed to cut between 2,000 and 3,000 jobs by early November.
As of December 2024, Paramount employed nearly 18,600 full- and part-time employees and 3,500 contract workers.
Paramount Skydance has not provided a response regarding the report.
