Skydance Paramount Will Eliminate Nearly 2,000 American Positions – Update

Skydance Paramount plans to initiate significant workforce reductions beginning on 27 October, eliminating nearly 2,000 US jobs under a cost-cutting plan valued at $2bn under CEO David Ellison.

The layoffs follow the combination of Skydance Media and Paramount Global, which closed this past August with a value of $8.4bn.

More overseas workforce reductions are anticipated, with the company planning to reveal all specifics during its third quarter earnings report on 10 November.

Prior news had indicated the firm aimed to cut between 2,000 to 3,000 jobs before the start of November.

As of December 2024, the company retained about 18,600 permanent and temporary staff and 3,500 contract workers.

The company has not provided a response regarding the report.