Skydance Paramount Plans to Cut Nearly 2,000 American Positions – Report
Paramount Skydance plans to start significant workforce reductions the week of 27 October, eliminating approximately 2,000 American roles as part of a cost-cutting plan worth $2bn under new chief executive David Ellison.
The layoffs come after the union of Skydance Media and Paramount Global, completed during August worth $8.4bn.
Further global layoffs are likely, as the firm aiming to disclose all specifics during its Q3 financial results set for the 10th of November.
Previous updates suggested the firm aimed to cut from 2,000 to 3,000 positions by the beginning of next month.
Until December 2024, the organization employed nearly 18,600 permanent and temporary staff along with 3,500 contract workers.
The company did not immediately respond on the matter.