🔗 Share this article

Paramount Skydance plans to start large-scale job cuts beginning on 27 October, eliminating approximately 2,000 US jobs under a budget-saving initiative worth $2bn overseen by top executive David Ellison.

The workforce reduction are a result of the combination of Skydance Media and Paramount Global, finalized in August valued at $8.4bn.

More global layoffs are expected, with Paramount Skydance intending to announce full details in its Q3 financial results set for the 10th of November.

Previous updates suggested the company planned to eliminate between 2,000 to 3,000 roles by early November.

By December 2024, Paramount retained nearly 18,600 permanent and temporary staff plus 3,500 temporary project employees.

Paramount Skydance has not provided a response regarding the report.