Paramount Skydance Plans to Remove Nearly 2,000 US Jobs – Update
Paramount Skydance plans to initiate mass layoffs beginning on 27 October, eliminating about 2,000 US jobs as part of a expense reduction strategy valued at $2bn led by CEO David Ellison.
The layoffs follow the merger of Skydance Media and Paramount Global, which closed in August with a value of $8.4bn.
More global layoffs are anticipated, as the firm intending to disclose full details in its third-quarter financial update scheduled for November 10.
Earlier reports had indicated the company was looking to eliminate from 2,000 and 3,000 positions by early November.
By December 2024, the organization employed about 18,600 permanent and temporary staff and 3,500 temporary project employees.
Paramount Skydance has not yet commented on the matter.
