Paramount Skydance Will Remove Around 2,000 US Jobs – Update
Skydance Paramount will initiate mass layoffs during the week starting 27 October, removing about 2,000 US jobs within a expense reduction strategy worth $2bn under new chief executive David Ellison.
The workforce reduction follow the combination between Skydance Media and Paramount Global, completed during August worth $8.4bn.
Further international job cuts are expected, with the company aiming to announce full details in its third-quarter financial update set for the 10th of November.
Prior news suggested that Paramount aimed to reduce from 2,000 and 3,000 roles by early November.
By December 2024, the company retained about 18,600 permanent and temporary staff along with 3,500 project-based staff.
The organization did not immediately respond on the matter.
