Paramount Skydance Will Cut Around 2,000 US Jobs – Update
Skydance Paramount plans to begin significant workforce reductions beginning on 27 October, cutting nearly 2,000 American roles as part of a cost-cutting plan totaling $2bn under new chief executive David Ellison.
The workforce reduction come after the union between Skydance Media and Paramount Global, which closed in August valued at $8.4bn.
Further international job cuts are anticipated, with Paramount Skydance aiming to disclose complete information during its third quarter earnings report on 10 November.
Earlier reports suggested the firm aimed to cut between 2,000 to 3,000 jobs by the beginning of next month.
By December 2024, Paramount retained almost 18,600 full- and part-time employees plus 3,500 temporary project employees.
Paramount Skydance has not provided a response on the matter.
