Paramount Skydance Will Eliminate Nearly 2,000 US Jobs – Update
Paramount Skydance is scheduled to begin large-scale job cuts beginning on 27 October, removing nearly 2,000 US jobs under a expense reduction strategy worth $2bn led by new chief executive David Ellison.
The workforce reduction are a result of the combination of Skydance Media and Paramount Global, which closed this past August worth $8.4bn.
More international job cuts are likely, with the company planning to reveal full details in its third quarter earnings report set for the 10th of November.
Earlier reports stated the company aimed to reduce between 2,000 and 3,000 jobs by early November.
Until December 2024, Paramount employed nearly 18,600 full- and part-time employees along with 3,500 project-based staff.
The company has not provided a response regarding the report.
