Paramount Skydance Plans to Eliminate Nearly 2,000 United States Roles – News
Paramount Skydance is scheduled to begin large-scale job cuts beginning on 27 October, eliminating nearly 2,000 US jobs under a budget-saving initiative valued at $2bn under new chief executive David Ellison.
These job cuts come after the combination of Skydance Media and Paramount Global, which closed during August valued at $8.4bn.
Further overseas workforce reductions are expected, with Paramount Skydance planning to reveal all specifics in its third-quarter financial update scheduled for November 10.
Earlier reports had indicated that Paramount was looking to cut between 2,000 to 3,000 jobs before the start of November.
As of December 2024, the company retained almost 18,600 workers on full-time and part-time contracts along with 3,500 contract workers.
The organization has not yet commented to a request for comment.
