Paramount Skydance Set to Cut Nearly 2,000 American Positions – News
Skydance Paramount is scheduled to initiate mass layoffs beginning on 27 October, removing about 2,000 US jobs as part of a budget-saving initiative worth $2bn under new chief executive David Ellison.
The workforce reduction come after the union between Skydance Media and Paramount Global, which closed in August worth $8.4bn.
More international job cuts are expected, as the firm planning to reveal full details via its third-quarter financial update scheduled for November 10.
Earlier reports suggested the firm planned to reduce between 2,000 and 3,000 jobs by the beginning of next month.
Until December 2024, the company retained nearly 18,600 workers on full-time and part-time contracts along with 3,500 project-based staff.
The organization did not immediately respond regarding the report.
