Skydance Paramount Plans to Eliminate Around 2,000 American Positions – Update
Paramount Skydance plans to initiate mass layoffs the week of 27 October, removing approximately 2,000 American roles under a cost-cutting plan worth $2bn under CEO David Ellison.
The workforce reduction are a result of the combination between Skydance Media and Paramount Global, completed in August valued at $8.4bn.
More global layoffs are likely, with Paramount Skydance planning to disclose all specifics via its third quarter earnings report scheduled for November 10.
Previous updates had indicated the company aimed to reduce between 2,000 to 3,000 roles by the beginning of next month.
By December 2024, the organization retained nearly 18,600 workers on full-time and part-time contracts and 3,500 project-based staff.
Paramount Skydance has not provided a response regarding the report.
