Paramount Skydance Will Eliminate Around 2,000 US Jobs – Update
Skydance Paramount plans to initiate large-scale job cuts during the week starting 27 October, eliminating nearly 2,000 American roles within a expense reduction strategy worth $2bn under new chief executive David Ellison.
These job cuts come after the merger between Skydance Media and Paramount Global, which closed this past August with a value of $8.4bn.
Further international job cuts are likely, with Paramount Skydance intending to announce full details in its third-quarter financial update set for the 10th of November.
Prior news stated the company was looking to cut between 2,000 and 3,000 positions by the beginning of next month.
Until December 2024, Paramount retained nearly 18,600 full- and part-time employees and 3,500 temporary project employees.
The organization has not provided a response regarding the report.
