Skydance Paramount Will Cut Approximately 2,000 US Jobs – News
Skydance Paramount plans to begin mass layoffs the week of 27 October, cutting nearly 2,000 US jobs under a cost-cutting plan totaling $2bn under CEO David Ellison.
The layoffs come after the combination of Skydance Media and Paramount Global, finalized in August with a value of $8.4bn.
Additional overseas workforce reductions are anticipated, as the firm aiming to reveal complete information during its third quarter earnings report set for the 10th of November.
Earlier reports had indicated that Paramount was looking to eliminate from 2,000 to 3,000 jobs before the start of November.
By December 2024, Paramount retained about 18,600 full- and part-time employees along with 3,500 contract workers.
The company has not provided a response regarding the report.
