Skydance Paramount Plans to Eliminate Approximately 2,000 American Positions – Update

Skydance Paramount will begin significant workforce reductions the week of 27 October, cutting nearly 2,000 positions in the United States under a expense reduction strategy worth $2bn led by new chief executive David Ellison.

The workforce reduction come after the merger of Skydance Media and Paramount Global, which closed during August valued at $8.4bn.

Further international job cuts are likely, with the company intending to announce all specifics in its third-quarter financial update scheduled for November 10.

Prior news suggested the company planned to eliminate between 2,000 and 3,000 jobs by the beginning of next month.

By December 2024, the organization retained almost 18,600 workers on full-time and part-time contracts plus 3,500 contract workers.

Paramount Skydance has not yet commented to a request for comment.