Paramount Skydance Plans to Eliminate Nearly 2,000 US Jobs – News
Paramount Skydance will initiate large-scale job cuts during the week starting 27 October, removing approximately 2,000 US jobs under a cost-cutting plan valued at $2bn under new chief executive David Ellison.
The workforce reduction come after the merger of Skydance Media and Paramount Global, which closed during August with a value of $8.4bn.
Additional international job cuts are likely, as the firm planning to announce full details during its Q3 financial results set for the 10th of November.
Earlier reports suggested the company planned to reduce from 2,000 and 3,000 jobs by the beginning of next month.
By December 2024, Paramount had almost 18,600 full- and part-time employees and 3,500 temporary project employees.
The organization did not immediately respond regarding the report.
