Paramount Skydance Will Cut Approximately 2,000 American Positions – Update
Skydance Paramount is scheduled to begin large-scale job cuts during the week starting 27 October, cutting approximately 2,000 positions in the United States as part of a budget-saving initiative worth $2bn overseen by new chief executive David Ellison.
The workforce reduction are a result of the union of Skydance Media and Paramount Global, finalized this past August worth $8.4bn.
Additional international job cuts are expected, with Paramount Skydance planning to reveal full details in its third-quarter financial update set for the 10th of November.
Prior news had indicated that Paramount planned to cut from 2,000 to 3,000 roles by early November.
By December 2024, the organization retained almost 18,600 permanent and temporary staff and 3,500 temporary project employees.
The company has not yet commented regarding the report.
