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

Paramount Skydance will start mass layoffs the week of 27 October, removing nearly 2,000 US jobs within a budget-saving initiative worth $2bn overseen by new chief executive David Ellison.

The workforce reduction are a result of the combination of Skydance Media and Paramount Global, finalized during August with a value of $8.4bn.

Additional global layoffs are expected, with the company intending to announce all specifics via its third quarter earnings report set for the 10th of November.

Previous updates suggested that Paramount aimed to cut from 2,000 to 3,000 roles before the start of November.

As of December 2024, the company employed nearly 18,600 workers on full-time and part-time contracts and 3,500 contract workers.

The company has not provided a response to a request for comment.