Skydance Paramount Will Remove Approximately 2,000 United States Roles – Update

Paramount Skydance plans to begin large-scale job cuts beginning on 27 October, cutting approximately 2,000 positions in the United States under a cost-cutting plan valued at $2bn under top executive David Ellison.

The layoffs are a result of the combination between Skydance Media and Paramount Global, finalized in August with a value of $8.4bn.

Additional global layoffs are likely, with the company planning to disclose full details via its third-quarter financial update on 10 November.

Prior news stated the company aimed to reduce from 2,000 and 3,000 jobs by the beginning of next month.

As of December 2024, the company had almost 18,600 full- and part-time employees plus 3,500 project-based staff.

The organization did not immediately respond regarding the report.