Paramount Skydance Set to Remove Nearly 2,000 US Jobs – Update
Paramount Skydance will begin mass layoffs the week of 27 October, removing approximately 2,000 US jobs as part of a budget-saving initiative valued at $2bn overseen by top executive David Ellison.
These job cuts follow the merger between Skydance Media and Paramount Global, finalized in August worth $8.4bn.
Further global layoffs are expected, as the firm planning to disclose complete information during its third-quarter financial update scheduled for November 10.
Prior news had indicated the company planned to reduce between 2,000 to 3,000 roles before the start of November.
As of December 2024, the organization had nearly 18,600 permanent and temporary staff along with 3,500 temporary project employees.
The organization has not yet commented regarding the report.
