Skydance Paramount Plans to Eliminate Nearly 2,000 American Positions – Update
Skydance Paramount will start significant workforce reductions the week of 27 October, cutting approximately 2,000 positions in the United States as part of a expense reduction strategy totaling $2bn led by CEO David Ellison.
The layoffs come after the union of Skydance Media and Paramount Global, finalized in August with a value of $8.4bn.
More global layoffs are anticipated, with Paramount Skydance planning to reveal complete information in its Q3 financial results set for the 10th of November.
Prior news suggested the company planned to reduce between 2,000 to 3,000 positions by the beginning of next month.
By December 2024, the organization employed nearly 18,600 permanent and temporary staff plus 3,500 contract workers.
Paramount Skydance has not yet commented on the matter.