Paramount Skydance Will Remove Around 2,000 American Positions – Update

Paramount Skydance is scheduled to begin mass layoffs beginning on 27 October, eliminating about 2,000 positions in the United States within a expense reduction strategy valued at $2bn overseen by new chief executive David Ellison.

The layoffs follow the combination of Skydance Media and Paramount Global, which closed in August with a value of $8.4bn.

Further overseas workforce reductions are likely, as the firm intending to reveal complete information during its third-quarter financial update scheduled for November 10.

Prior news had indicated the company planned to reduce between 2,000 and 3,000 positions before the start of November.

Until December 2024, the company retained about 18,600 permanent and temporary staff plus 3,500 project-based staff.

The company has not yet commented on the matter.