Skydance Paramount Plans to Cut Approximately 2,000 American Positions – News
Paramount Skydance plans to initiate mass layoffs during the week starting 27 October, cutting about 2,000 positions in the United States as part of a expense reduction strategy worth $2bn overseen by new chief executive David Ellison.
The layoffs are a result of the merger of Skydance Media and Paramount Global, finalized in August with a value of $8.4bn.
More global layoffs are anticipated, as the firm planning to disclose full details during its third quarter earnings report on 10 November.
Earlier reports suggested the company aimed to eliminate from 2,000 to 3,000 positions by early November.
Until December 2024, Paramount employed nearly 18,600 workers on full-time and part-time contracts and 3,500 temporary project employees.
The organization has not provided a response on the matter.
