Paramount Skydance Plans to Eliminate Nearly 2,000 US Jobs – Update
Paramount Skydance will start large-scale job cuts the week of 27 October, eliminating approximately 2,000 US jobs as part of a budget-saving initiative worth $2bn overseen by new chief executive David Ellison.
The workforce reduction are a result of the merger between Skydance Media and Paramount Global, which closed during August worth $8.4bn.
Further international job cuts are anticipated, with the company intending to disclose full details during its Q3 financial results set for the 10th of November.
Previous updates suggested the company aimed to cut from 2,000 and 3,000 jobs before the start of November.
As of December 2024, the organization employed almost 18,600 permanent and temporary staff along with 3,500 temporary project employees.
The company has not yet commented on the matter.
