Paramount Skydance Will Cut Nearly 2,000 US Jobs – Update

Paramount Skydance will initiate large-scale job cuts beginning on 27 October, eliminating about 2,000 positions in the United States as part of a budget-saving initiative totaling $2bn under top executive David Ellison.

The workforce reduction follow the union of Skydance Media and Paramount Global, completed this past August worth $8.4bn.

Additional international job cuts are expected, with Paramount Skydance planning to announce all specifics during its third-quarter financial update set for the 10th of November.

Earlier reports had indicated that Paramount planned to reduce between 2,000 and 3,000 jobs before the start of November.

Until December 2024, Paramount retained nearly 18,600 workers on full-time and part-time contracts along with 3,500 contract workers.

The company has not yet commented to a request for comment.