Skydance Paramount Plans to Eliminate Nearly 2,000 US Jobs – Update

Skydance Paramount will start significant workforce reductions beginning on 27 October, eliminating about 2,000 US jobs within a cost-cutting plan valued at $2bn overseen by new chief executive David Ellison.

The workforce reduction are a result of the combination of Skydance Media and Paramount Global, completed during August worth $8.4bn.

Further global layoffs are likely, as the firm planning to announce complete information via its Q3 financial results set for the 10th of November.

Earlier reports had indicated that Paramount was looking to cut from 2,000 to 3,000 jobs before the start of November.

As of December 2024, the organization retained nearly 18,600 full- and part-time employees plus 3,500 temporary project employees.

Paramount Skydance did not immediately respond on the matter.