Paramount Skydance Set to Eliminate Nearly 2,000 United States Roles – Update
Paramount Skydance is scheduled to initiate mass layoffs beginning on 27 October, cutting nearly 2,000 American roles as part of a budget-saving initiative worth $2bn under CEO David Ellison.
These job cuts come after the merger between Skydance Media and Paramount Global, completed during August with a value of $8.4bn.
Further global layoffs are expected, with the company aiming to reveal all specifics in its Q3 financial results on 10 November.
Previous updates had indicated the company was looking to cut between 2,000 and 3,000 roles by the beginning of next month.
As of December 2024, the organization had almost 18,600 full- and part-time employees along with 3,500 contract workers.
The organization has not yet commented on the matter.