Paramount Skydance Plans to Remove Approximately 2,000 US Jobs – News
Paramount Skydance plans to initiate large-scale job cuts beginning on 27 October, removing nearly 2,000 positions in the United States as part of a cost-cutting plan worth $2bn led by CEO David Ellison.
The workforce reduction come after the merger between Skydance Media and Paramount Global, completed during August with a value of $8.4bn.
Further overseas workforce reductions are expected, with Paramount Skydance aiming to disclose all specifics in its third quarter earnings report set for the 10th of November.
Earlier reports had indicated the company planned to cut from 2,000 to 3,000 positions before the start of November.
By December 2024, the organization retained almost 18,600 workers on full-time and part-time contracts and 3,500 temporary project employees.
Paramount Skydance has not yet commented to a request for comment.
