Paramount Skydance Will Remove Approximately 2,000 US Jobs – News
Paramount Skydance is scheduled to initiate significant workforce reductions during the week starting 27 October, removing nearly 2,000 American roles under a cost-cutting plan worth $2bn under top executive David Ellison.
The workforce reduction are a result of the combination of Skydance Media and Paramount Global, finalized in August worth $8.4bn.
Additional international job cuts are expected, with the company aiming to disclose complete information in its third-quarter financial update scheduled for November 10.
Prior news stated the company aimed to cut between 2,000 to 3,000 roles by the beginning of next month.
Until December 2024, Paramount retained about 18,600 workers on full-time and part-time contracts along with 3,500 project-based staff.
The organization did not immediately respond on the matter.