Paramount Skydance Set to Remove Around 2,000 US Jobs – Update

Paramount Skydance plans to begin large-scale job cuts during the week starting 27 October, removing about 2,000 American roles under a cost-cutting plan valued at $2bn led by CEO David Ellison.

The layoffs come after the union of Skydance Media and Paramount Global, completed in August worth $8.4bn.

Additional overseas workforce reductions are likely, with Paramount Skydance intending to disclose all specifics in its Q3 financial results set for the 10th of November.

Previous updates had indicated that Paramount planned to eliminate between 2,000 and 3,000 jobs before the start of November.

As of December 2024, the company had nearly 18,600 workers on full-time and part-time contracts along with 3,500 project-based staff.

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