Skydance Paramount Will Eliminate Around 2,000 United States Roles – Update
Paramount Skydance is scheduled to initiate mass layoffs during the week starting 27 October, eliminating approximately 2,000 American roles within a cost-cutting plan totaling $2bn led by top executive David Ellison.
The workforce reduction are a result of the merger of Skydance Media and Paramount Global, finalized during August valued at $8.4bn.
Further global layoffs are likely, as the firm intending to disclose full details via its third-quarter financial update on 10 November.
Prior news suggested that Paramount was looking to reduce from 2,000 and 3,000 positions by the beginning of next month.
By December 2024, the organization retained nearly 18,600 permanent and temporary staff along with 3,500 contract workers.
The organization has not yet commented on the matter.
