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

Paramount Skydance will start mass layoffs the week of 27 October, removing nearly 2,000 American roles as part of a cost-cutting plan totaling $2bn overseen by new chief executive David Ellison.

The workforce reduction follow the combination of Skydance Media and Paramount Global, completed this past August worth $8.4bn.

Additional global layoffs are anticipated, with the company aiming to disclose full details in its Q3 financial results set for the 10th of November.

Earlier reports stated the company was looking to eliminate between 2,000 to 3,000 roles by the beginning of next month.

Until December 2024, Paramount employed nearly 18,600 full- and part-time employees and 3,500 temporary project employees.

Paramount Skydance has not yet commented to a request for comment.