Paramount Skydance Set to Remove Nearly 2,000 US Jobs – Update
Skydance Paramount will initiate significant workforce reductions during the week starting 27 October, eliminating approximately 2,000 US jobs within a cost-cutting plan valued at $2bn under CEO David Ellison.
The layoffs follow the merger of Skydance Media and Paramount Global, which closed during August valued at $8.4bn.
More global layoffs are expected, as the firm planning to announce all specifics via its third quarter earnings report set for the 10th of November.
Earlier reports suggested the firm planned to reduce between 2,000 to 3,000 jobs by early November.
By December 2024, the organization retained nearly 18,600 permanent and temporary staff and 3,500 contract workers.
The organization did not immediately respond on the matter.
