Paramount Skydance Will Cut Nearly 2,000 US Jobs – Update
Skydance Paramount plans to initiate mass layoffs during the week starting 27 October, cutting about 2,000 positions in the United States within a budget-saving initiative valued at $2bn overseen by CEO David Ellison.
The layoffs come after the merger of Skydance Media and Paramount Global, which closed in August valued at $8.4bn.
More global layoffs are anticipated, with the company planning to disclose all specifics via its third-quarter financial update set for the 10th of November.
Earlier reports stated that Paramount was looking to cut from 2,000 and 3,000 jobs before the start of November.
By December 2024, the organization employed almost 18,600 workers on full-time and part-time contracts and 3,500 temporary project employees.
The organization has not provided a response regarding the report.
