Skydance Paramount Will Eliminate Approximately 2,000 United States Roles – Update
Skydance Paramount will initiate significant workforce reductions beginning on 27 October, eliminating nearly 2,000 US jobs as part of a budget-saving initiative worth $2bn led by CEO David Ellison.
The workforce reduction follow the combination of Skydance Media and Paramount Global, finalized this past August with a value of $8.4bn.
Further international job cuts are likely, with the company planning to announce full details during its Q3 financial results on 10 November.
Earlier reports had indicated that Paramount planned to reduce between 2,000 and 3,000 jobs by early November.
Until December 2024, the company retained about 18,600 permanent and temporary staff along with 3,500 contract workers.
The organization has not yet commented regarding the report.
