Skydance Paramount Set to Eliminate Approximately 2,000 American Positions – Update
Skydance Paramount is scheduled to start large-scale job cuts the week of 27 October, cutting about 2,000 American roles as part of a budget-saving initiative valued at $2bn under new chief executive David Ellison.
The workforce reduction are a result of the merger between Skydance Media and Paramount Global, which closed this past August valued at $8.4bn.
Further international job cuts are expected, with the company planning to announce all specifics via its Q3 financial results scheduled for November 10.
Previous updates stated the firm planned to reduce between 2,000 to 3,000 roles by the beginning of next month.
Until December 2024, the company retained nearly 18,600 full- and part-time employees plus 3,500 temporary project employees.
The organization did not immediately respond regarding the report.