Paramount Skydance Will Cut Around 2,000 US Jobs – Update
Skydance Paramount plans to initiate mass layoffs beginning on 27 October, cutting about 2,000 US jobs within a budget-saving initiative valued at $2bn overseen by CEO David Ellison.
The layoffs follow the merger of Skydance Media and Paramount Global, which closed this past August with a value of $8.4bn.
Additional global layoffs are expected, with Paramount Skydance aiming to announce complete information 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 by early November.
Until December 2024, the organization employed about 18,600 full- and part-time employees plus 3,500 contract workers.
The company did not immediately respond to a request for comment.
