Paramount Skydance Will Cut Nearly 2,000 American Positions – Update
Skydance Paramount is scheduled to begin mass layoffs beginning on 27 October, cutting approximately 2,000 positions in the United States as part of a expense reduction strategy worth $2bn under CEO David Ellison.
The layoffs come after the combination of Skydance Media and Paramount Global, completed in August worth $8.4bn.
Further overseas workforce reductions are expected, with the company intending to reveal complete information in its third quarter earnings report on 10 November.
Earlier reports stated the company aimed to reduce from 2,000 and 3,000 positions before the start of November.
By December 2024, the company retained about 18,600 workers on full-time and part-time contracts along with 3,500 temporary project employees.
Paramount Skydance has not yet commented regarding the report.
