Skydance Paramount Plans to Eliminate Approximately 2,000 United States Roles – Report
Skydance Paramount is scheduled to initiate significant workforce reductions during the week starting 27 October, eliminating about 2,000 positions in the United States within a expense reduction strategy worth $2bn led by top executive David Ellison.
The workforce reduction follow the combination between Skydance Media and Paramount Global, completed during August valued at $8.4bn.
Additional global layoffs are anticipated, as the firm aiming to disclose full details during its third quarter earnings report set for the 10th of November.
Earlier reports stated the company planned to eliminate between 2,000 to 3,000 jobs by the beginning of next month.
By December 2024, Paramount employed almost 18,600 workers on full-time and part-time contracts plus 3,500 contract workers.
The company has not provided a response on the matter.