Paramount Skydance Will Cut Nearly 2,000 American Positions – Update
Skydance Paramount will initiate large-scale job cuts beginning on 27 October, removing about 2,000 US jobs under a expense reduction strategy valued at $2bn led by top executive David Ellison.
These job cuts follow the merger between Skydance Media and Paramount Global, which closed in August worth $8.4bn.
Further overseas workforce reductions are expected, as the firm aiming to announce all specifics during its third-quarter financial update on 10 November.
Prior news had indicated the company aimed to cut between 2,000 to 3,000 positions before the start of November.
By December 2024, the company retained about 18,600 workers on full-time and part-time contracts along with 3,500 temporary project employees.
The organization has not provided a response to a request for comment.
