Paramount Skydance Will Remove Nearly 2,000 US Jobs – Update
Skydance Paramount is scheduled to initiate large-scale job cuts during the week starting 27 October, cutting approximately 2,000 American roles within a cost-cutting plan valued at $2bn overseen by new chief executive David Ellison.
The layoffs are a result of the merger of Skydance Media and Paramount Global, completed in August with a value of $8.4bn.
Additional global layoffs are likely, with the company aiming to announce complete information via its third-quarter financial update on 10 November.
Previous updates had indicated the company planned to cut from 2,000 and 3,000 jobs before the start of November.
Until December 2024, the company had about 18,600 full- and part-time employees along with 3,500 project-based staff.
Paramount Skydance has not yet commented on the matter.
