Paramount Skydance Will Remove Around 2,000 US Jobs – News
Paramount Skydance plans to start mass layoffs the week of 27 October, cutting about 2,000 US jobs within a budget-saving initiative valued at $2bn overseen by top executive David Ellison.
These job cuts are a result of the merger between Skydance Media and Paramount Global, which closed this past August with a value of $8.4bn.
More global layoffs are anticipated, with Paramount Skydance aiming to announce all specifics via its Q3 financial results scheduled for November 10.
Earlier reports stated the firm was looking to eliminate from 2,000 and 3,000 roles by the beginning of next month.
As of December 2024, the company had nearly 18,600 permanent and temporary staff along with 3,500 temporary project employees.
The company did not immediately respond to a request for comment.