Paramount Skydance Set to Cut Nearly 2,000 US Jobs – News
Skydance Paramount plans to begin mass layoffs during the week starting 27 October, removing about 2,000 positions in the United States under a budget-saving initiative worth $2bn overseen by new chief executive David Ellison.
The layoffs follow the combination of Skydance Media and Paramount Global, which closed during August valued at $8.4bn.
Further overseas workforce reductions are anticipated, with the company aiming to announce full details in its Q3 financial results scheduled for November 10.
Prior news had indicated the firm aimed to cut between 2,000 and 3,000 roles by the beginning of next month.
By December 2024, the organization employed almost 18,600 permanent and temporary staff along with 3,500 temporary project employees.
The organization has not yet commented on the matter.
