🔗 Share this article

Paramount Skydance plans to initiate significant workforce reductions during the week starting 27 October, eliminating about 2,000 American roles under a cost-cutting plan totaling $2bn under top executive David Ellison.

The layoffs are a result of the combination of Skydance Media and Paramount Global, which closed during August worth $8.4bn.

Further global layoffs are likely, with the company intending to reveal all specifics in its third quarter earnings report set for the 10th of November.

Prior news had indicated the firm planned to eliminate from 2,000 to 3,000 jobs before the start of November.

By December 2024, the organization employed nearly 18,600 full- and part-time employees and 3,500 project-based staff.

The company has not provided a response to a request for comment.