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

Skydance Paramount plans to begin significant workforce reductions during the week starting 27 October, removing approximately 2,000 positions in the United States within a expense reduction strategy worth $2bn led by top executive David Ellison.

These job cuts follow the combination of Skydance Media and Paramount Global, which closed during August valued at $8.4bn.

Further overseas workforce reductions are anticipated, with Paramount Skydance aiming to announce full details via its third-quarter financial update on 10 November.

Earlier reports had indicated the company was looking to reduce between 2,000 and 3,000 jobs by the beginning of next month.

By December 2024, Paramount had nearly 18,600 permanent and temporary staff along with 3,500 contract workers.

Paramount Skydance has not provided a response regarding the report.