Skydance Paramount Plans to Cut Nearly 2,000 US Jobs – News
Skydance Paramount is scheduled to start mass layoffs beginning on 27 October, removing about 2,000 positions in the United States under a cost-cutting plan worth $2bn under top executive David Ellison.
The layoffs follow the merger between Skydance Media and Paramount Global, finalized during August valued at $8.4bn.
More global layoffs are likely, as the firm planning to disclose full details via its third quarter earnings report scheduled for November 10.
Previous updates had indicated that Paramount aimed to eliminate from 2,000 to 3,000 positions before the start of November.
As of December 2024, the organization had nearly 18,600 permanent and temporary staff along with 3,500 contract workers.
The company has not yet commented regarding the report.
