Skydance Paramount Will Remove Approximately 2,000 US Jobs – News
Skydance Paramount will begin large-scale job cuts the week of 27 October, removing nearly 2,000 positions in the United States within a budget-saving initiative totaling $2bn under new chief executive David Ellison.
The layoffs are a result of the union between Skydance Media and Paramount Global, which closed during August worth $8.4bn.
More overseas workforce reductions are likely, with the company planning to disclose full details in its Q3 financial results scheduled for November 10.
Prior news suggested the firm was looking to eliminate from 2,000 to 3,000 positions by the beginning of next month.
As of December 2024, Paramount had nearly 18,600 permanent and temporary staff plus 3,500 contract workers.
The company has not yet commented on the matter.