Paramount Skydance Plans to Cut Approximately 2,000 American Positions – Update
Paramount Skydance will start significant workforce reductions during the week starting 27 October, cutting approximately 2,000 US jobs as part of a expense reduction strategy worth $2bn led by new chief executive David Ellison.
These job cuts follow the merger of Skydance Media and Paramount Global, which closed during August worth $8.4bn.
Further overseas workforce reductions are likely, with Paramount Skydance planning to reveal complete information via its third-quarter financial update scheduled for November 10.
Earlier reports suggested the company was looking to cut between 2,000 and 3,000 positions by early November.
As of December 2024, the organization employed about 18,600 workers on full-time and part-time contracts and 3,500 temporary project employees.
Paramount Skydance has not yet commented regarding the report.
