Paramount Skydance Set to Remove Approximately 2,000 US Jobs – Update
Skydance Paramount is scheduled to initiate significant workforce reductions beginning on 27 October, removing nearly 2,000 US jobs as part of a expense reduction strategy worth $2bn led by new chief executive David Ellison.
The layoffs are a result of the union of Skydance Media and Paramount Global, finalized this past August valued at $8.4bn.
More global layoffs are anticipated, as the firm intending to disclose all specifics in its third quarter earnings report on 10 November.
Previous updates had indicated the company was looking to eliminate from 2,000 and 3,000 roles before the start of November.
By December 2024, the organization employed about 18,600 permanent and temporary staff and 3,500 project-based staff.
The company did not immediately respond regarding the report.
