Paramount Skydance Will Cut Around 2,000 American Positions – Report
Paramount Skydance plans to start significant workforce reductions during the week starting 27 October, cutting nearly 2,000 American roles as part of a expense reduction strategy totaling $2bn led by CEO David Ellison.
The layoffs follow the merger between Skydance Media and Paramount Global, which closed this past August with a value of $8.4bn.
More global layoffs are expected, as the firm aiming to reveal complete information in its Q3 financial results set for the 10th of November.
Previous updates had indicated the company planned to cut between 2,000 and 3,000 roles by the beginning of next month.
By December 2024, the organization had nearly 18,600 workers on full-time and part-time contracts along with 3,500 project-based staff.
Paramount Skydance did not immediately respond to a request for comment.
