Skydance Paramount Plans to Eliminate Nearly 2,000 American Positions – Update
Skydance Paramount plans to initiate significant workforce reductions during the week starting 27 October, removing about 2,000 positions in the United States under a cost-cutting plan worth $2bn overseen by CEO David Ellison.
The workforce reduction come after the combination between Skydance Media and Paramount Global, finalized during August valued at $8.4bn.
Additional international job cuts are anticipated, as the firm aiming to reveal full details in its third quarter earnings report on 10 November.
Earlier reports had indicated that Paramount was looking to reduce from 2,000 to 3,000 roles by the beginning of next month.
By December 2024, the organization employed nearly 18,600 workers on full-time and part-time contracts along with 3,500 contract workers.
The company has not yet commented on the matter.
