Paramount Skydance Will Eliminate Approximately 2,000 US Jobs – Update
Skydance Paramount plans to initiate mass layoffs the week of 27 October, removing about 2,000 US jobs as part of a cost-cutting plan worth $2bn under CEO David Ellison.
The layoffs are a result of the union between Skydance Media and Paramount Global, finalized in August worth $8.4bn.
More global layoffs are expected, with the company planning to announce all specifics in its third quarter earnings report scheduled for November 10.
Previous updates had indicated the firm was looking to cut from 2,000 to 3,000 positions before the start of November.
Until December 2024, the company had nearly 18,600 full- and part-time employees plus 3,500 contract workers.
The company has not yet commented on the matter.
