Paramount Skydance Will Remove Nearly 2,000 US Jobs – News
Skydance Paramount plans to initiate mass layoffs during the week starting 27 October, removing nearly 2,000 positions in the United States as part of a expense reduction strategy valued at $2bn under top executive David Ellison.
The workforce reduction come after the merger between Skydance Media and Paramount Global, finalized this past August with a value of $8.4bn.
More global layoffs are anticipated, with Paramount Skydance intending to announce full details in its Q3 financial results set for the 10th of November.
Prior news suggested the company planned to eliminate from 2,000 and 3,000 jobs before the start of November.
By December 2024, Paramount had about 18,600 permanent and temporary staff and 3,500 contract workers.
The company did not immediately respond on the matter.
