🔗 Share this article

Paramount Skydance will start significant workforce reductions beginning on 27 October, removing nearly 2,000 US jobs under a cost-cutting plan totaling $2bn led by CEO David Ellison.

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

Additional overseas workforce reductions are likely, with the company aiming to announce all specifics in its third quarter earnings report scheduled for November 10.

Prior news suggested that Paramount was looking to eliminate from 2,000 to 3,000 roles by the beginning of next month.

As of December 2024, Paramount employed about 18,600 full- and part-time employees plus 3,500 project-based staff.

The company did not immediately respond to a request for comment.