Skydance Paramount Will Cut Approximately 2,000 US Jobs – Update
Skydance Paramount plans to initiate significant workforce reductions the week of 27 October, removing nearly 2,000 US jobs under a budget-saving initiative totaling $2bn under new chief executive David Ellison.
These job cuts come after the combination between Skydance Media and Paramount Global, which closed this past August valued at $8.4bn.
More international job cuts are anticipated, as the firm intending to disclose all specifics during its third-quarter financial update scheduled for November 10.
Earlier reports stated that Paramount aimed to cut between 2,000 to 3,000 positions by the beginning of next month.
As of December 2024, the company retained nearly 18,600 workers on full-time and part-time contracts plus 3,500 contract workers.
The company has not yet commented on the matter.
