🔗 Share this article

Paramount Skydance is scheduled to begin significant workforce reductions the week of 27 October, cutting nearly 2,000 American roles as part of a expense reduction strategy valued at $2bn overseen by new chief executive David Ellison.

The layoffs are a result of the merger between Skydance Media and Paramount Global, which closed this past August valued at $8.4bn.

Additional overseas workforce reductions are expected, with Paramount Skydance aiming to announce complete information in its third-quarter financial update scheduled for November 10.

Earlier reports suggested that Paramount aimed to eliminate between 2,000 to 3,000 positions before the start of November.

As of December 2024, the company retained nearly 18,600 permanent and temporary staff along with 3,500 contract workers.

The organization has not yet commented regarding the report.