Paramount Skydance Will Remove Approximately 2,000 American Positions – Update
Paramount Skydance will start mass layoffs during the week starting 27 October, cutting approximately 2,000 positions in the United States under a cost-cutting plan worth $2bn under top executive David Ellison.
The layoffs are a result of the combination between Skydance Media and Paramount Global, completed in August valued at $8.4bn.
More international job cuts are expected, as the firm planning to reveal all specifics in its third quarter earnings report set for the 10th of November.
Earlier reports had indicated the company planned to reduce between 2,000 to 3,000 positions by early November.
Until December 2024, the company retained almost 18,600 permanent and temporary staff along with 3,500 temporary project employees.
The company did not immediately respond regarding the report.
