Skydance Paramount Set to Cut Approximately 2,000 US Jobs – News
Paramount Skydance will begin significant workforce reductions during the week starting 27 October, cutting nearly 2,000 US jobs as part of a expense reduction strategy worth $2bn under new chief executive David Ellison.
These job cuts are a result of the combination of Skydance Media and Paramount Global, finalized this past August with a value of $8.4bn.
More overseas workforce reductions are likely, as the firm aiming to announce complete information via its Q3 financial results on 10 November.
Previous updates had indicated that Paramount planned to eliminate between 2,000 to 3,000 positions before the start of November.
By December 2024, the organization had almost 18,600 permanent and temporary staff along with 3,500 temporary project employees.
The organization did not immediately respond on the matter.
