Paramount Skydance Plans to Eliminate Around 2,000 US Jobs – Update

Skydance Paramount will initiate mass layoffs during the week starting 27 October, eliminating nearly 2,000 American roles within a cost-cutting plan totaling $2bn overseen by top executive David Ellison.

The layoffs are a result of the union between Skydance Media and Paramount Global, finalized in August valued at $8.4bn.

Further global layoffs are anticipated, with the company planning to disclose all specifics via its third quarter earnings report scheduled for November 10.

Prior news stated that Paramount planned to reduce from 2,000 and 3,000 jobs before the start of November.

By December 2024, the organization employed nearly 18,600 permanent and temporary staff plus 3,500 project-based staff.

Paramount Skydance did not immediately respond regarding the report.