Skydance Paramount Set to Remove Approximately 2,000 American Positions – Report
Skydance Paramount plans to initiate large-scale job cuts beginning on 27 October, removing nearly 2,000 US jobs under a cost-cutting plan totaling $2bn under new chief executive David Ellison.
The workforce reduction are a result of the combination between Skydance Media and Paramount Global, which closed in August valued at $8.4bn.
Additional international job cuts are anticipated, with Paramount Skydance aiming to announce complete information during its third quarter earnings report scheduled for November 10.
Earlier reports had indicated that Paramount aimed to cut from 2,000 to 3,000 positions by the beginning of next month.
By December 2024, the organization had almost 18,600 permanent and temporary staff and 3,500 project-based staff.
The company did not immediately respond on the matter.
