Paramount Skydance Set to Eliminate Approximately 2,000 American Positions – News
Paramount Skydance will initiate mass layoffs the week of 27 October, eliminating nearly 2,000 US jobs within a budget-saving initiative valued at $2bn led by new chief executive David Ellison.
The workforce reduction follow the merger between Skydance Media and Paramount Global, completed this past August valued at $8.4bn.
Further global layoffs are anticipated, as the firm intending to reveal all specifics during its third quarter earnings report set for the 10th of November.
Previous updates had indicated the company planned to reduce from 2,000 and 3,000 positions by the beginning of next month.
By December 2024, Paramount employed almost 18,600 permanent and temporary staff along with 3,500 contract workers.
The company has not provided a response to a request for comment.
