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

Paramount Skydance will initiate mass layoffs the week of 27 October, removing about 2,000 positions in the United States as part of a expense reduction strategy valued at $2bn under new chief executive David Ellison.

These job cuts come after the union of Skydance Media and Paramount Global, finalized during August valued at $8.4bn.

More global layoffs are anticipated, as the firm planning to announce all specifics during its third quarter earnings report scheduled for November 10.

Earlier reports suggested that Paramount aimed to reduce between 2,000 and 3,000 roles by early November.

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

Paramount Skydance did not immediately respond on the matter.