Skydance Paramount Plans to Cut Nearly 2,000 US Jobs – News
Paramount Skydance plans to begin large-scale job cuts during the week starting 27 October, cutting nearly 2,000 American roles under a expense reduction strategy worth $2bn led by CEO David Ellison.
The workforce reduction are a result of the merger between Skydance Media and Paramount Global, which closed this past August worth $8.4bn.
Additional international job cuts are expected, as the firm intending to reveal complete information via its third quarter earnings report scheduled for November 10.
Earlier reports suggested that Paramount planned to reduce between 2,000 to 3,000 jobs by early November.
As of December 2024, the organization had almost 18,600 permanent and temporary staff and 3,500 project-based staff.
The organization has not yet commented to a request for comment.
