Skydance Paramount Set to Eliminate Approximately 2,000 American Positions – Update
Skydance Paramount plans to initiate large-scale job cuts the week of 27 October, eliminating nearly 2,000 positions in the United States under a expense reduction strategy worth $2bn led by top executive David Ellison.
These job cuts are a result of the merger between Skydance Media and Paramount Global, finalized this past August with a value of $8.4bn.
More global layoffs are expected, with the company planning to announce all specifics during its third quarter earnings report on 10 November.
Previous updates stated that Paramount was looking to cut from 2,000 and 3,000 jobs by early November.
As of December 2024, Paramount employed almost 18,600 workers on full-time and part-time contracts plus 3,500 contract workers.
The company has not provided a response to a request for comment.
