Paramount Skydance Plans to Remove Approximately 2,000 American Positions – Update
Skydance Paramount will start significant workforce reductions the week of 27 October, eliminating nearly 2,000 American roles under a budget-saving initiative totaling $2bn overseen by top executive David Ellison.
The workforce reduction follow the merger between Skydance Media and Paramount Global, which closed during August worth $8.4bn.
More global layoffs are likely, with the company planning to announce complete information in its third-quarter financial update on 10 November.
Earlier reports had indicated that Paramount planned to reduce between 2,000 to 3,000 roles by the beginning of next month.
As of December 2024, the organization had about 18,600 permanent and temporary staff along with 3,500 contract workers.
The company did not immediately respond to a request for comment.
