Paramount Skydance Will Remove Approximately 2,000 United States Roles – Report
Paramount Skydance is scheduled to begin mass layoffs during the week starting 27 October, cutting approximately 2,000 American roles under a expense reduction strategy valued at $2bn under new chief executive David Ellison.
The layoffs follow the combination of Skydance Media and Paramount Global, which closed this past August valued at $8.4bn.
More global layoffs are anticipated, with the company aiming to announce complete information in its Q3 financial results scheduled for November 10.
Earlier reports suggested the company planned to reduce between 2,000 and 3,000 jobs by the beginning of next month.
As of December 2024, Paramount employed nearly 18,600 permanent and temporary staff along with 3,500 temporary project employees.
The company did not immediately respond on the matter.
