Paramount Skydance Plans to Remove Around 2,000 US Jobs – Update
Skydance Paramount will initiate large-scale job cuts the week of 27 October, eliminating nearly 2,000 US jobs as part of a expense reduction strategy totaling $2bn led by top executive David Ellison.
The workforce reduction are a result of the merger between Skydance Media and Paramount Global, which closed during August worth $8.4bn.
Additional overseas workforce reductions are anticipated, with Paramount Skydance planning to announce full details in its third quarter earnings report on 10 November.
Prior news stated that Paramount was looking to cut between 2,000 to 3,000 jobs before the start of November.
By December 2024, the organization had about 18,600 workers on full-time and part-time contracts and 3,500 temporary project employees.
The company did not immediately respond regarding the report.
