Paramount Skydance Plans to Eliminate Around 2,000 US Jobs – News
Paramount Skydance plans to begin large-scale job cuts the week of 27 October, removing about 2,000 positions in the United States under a expense reduction strategy valued at $2bn overseen by top executive David Ellison.
The workforce reduction are a result of the union of Skydance Media and Paramount Global, which closed during August worth $8.4bn.
Further global layoffs are likely, as the firm aiming to disclose full details via its Q3 financial results scheduled for November 10.
Earlier reports suggested the firm planned to reduce from 2,000 and 3,000 positions by the beginning of next month.
By December 2024, the company had almost 18,600 workers on full-time and part-time contracts and 3,500 temporary project employees.
Paramount Skydance has not yet commented regarding the report.
