🔗 Share this article

Paramount Skydance plans to start significant workforce reductions during the week starting 27 October, cutting about 2,000 positions in the United States as part of a budget-saving initiative valued at $2bn led by top executive David Ellison.

The layoffs are a result of the merger between Skydance Media and Paramount Global, finalized this past August worth $8.4bn.

More global layoffs are anticipated, with the company intending to reveal complete information during its third-quarter financial update on 10 November.

Prior news suggested the firm planned to cut from 2,000 and 3,000 roles by the beginning of next month.

By December 2024, Paramount employed almost 18,600 permanent and temporary staff along with 3,500 project-based staff.

The company has not provided a response regarding the report.