🔗 Share this article

Skydance Paramount is scheduled to initiate mass layoffs beginning on 27 October, cutting nearly 2,000 positions in the United States within a expense reduction strategy worth $2bn overseen by top executive David Ellison.

The workforce reduction follow the combination of Skydance Media and Paramount Global, which closed this past August with a value of $8.4bn.

Further global layoffs are anticipated, with Paramount Skydance aiming to reveal complete information during its Q3 financial results set for the 10th of November.

Prior news stated that Paramount was looking to eliminate from 2,000 to 3,000 positions before the start of November.

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

The company has not provided a response regarding the report.