Paramount Skydance Set to Cut Nearly 2,000 US Jobs – Update
Skydance Paramount plans to start significant workforce reductions the week of 27 October, removing about 2,000 American roles under a expense reduction strategy worth $2bn led by new chief executive David Ellison.
The workforce reduction come after the combination between Skydance Media and Paramount Global, completed during August valued at $8.4bn.
More overseas workforce reductions are expected, with the company aiming to disclose full details via its third quarter earnings report on 10 November.
Previous updates stated that Paramount aimed to eliminate from 2,000 and 3,000 positions by early November.
As of December 2024, the company employed nearly 18,600 workers on full-time and part-time contracts and 3,500 contract workers.
Paramount Skydance did not immediately respond regarding the report.