Skydance Paramount Set to Remove Approximately 2,000 US Jobs – Update
Paramount Skydance plans to start large-scale job cuts beginning on 27 October, cutting approximately 2,000 positions in the United States under a budget-saving initiative totaling $2bn under CEO David Ellison.
These job cuts follow the combination between Skydance Media and Paramount Global, finalized during August valued at $8.4bn.
More international job cuts are expected, with Paramount Skydance intending to disclose full details during its third quarter earnings report scheduled for November 10.
Previous updates stated that Paramount was looking to cut between 2,000 and 3,000 positions by the beginning of next month.
By December 2024, the organization employed about 18,600 permanent and temporary staff and 3,500 project-based staff.
Paramount Skydance has not provided a response to a request for comment.