Paramount Skydance Set to Cut Approximately 2,000 United States Roles – Report
Paramount Skydance is scheduled to start significant workforce reductions beginning on 27 October, removing about 2,000 positions in the United States as part of a budget-saving initiative worth $2bn led by new chief executive David Ellison.
The workforce reduction are a result of the merger between Skydance Media and Paramount Global, finalized in August valued at $8.4bn.
More overseas workforce reductions are expected, as the firm planning to announce complete information via its Q3 financial results on 10 November.
Earlier reports stated the company planned to eliminate between 2,000 and 3,000 jobs by the beginning of next month.
By December 2024, the organization employed about 18,600 full- and part-time employees along with 3,500 project-based staff.
Paramount Skydance has not yet commented on the matter.
