🔗 Share this article

Skydance Paramount plans to start mass layoffs during the week starting 27 October, eliminating nearly 2,000 US jobs under a cost-cutting plan worth $2bn led by new chief executive David Ellison.

The workforce reduction follow the combination between Skydance Media and Paramount Global, finalized this past August worth $8.4bn.

Additional overseas workforce reductions are expected, with the company aiming to announce all specifics during its third-quarter financial update on 10 November.

Earlier reports stated the company planned to cut from 2,000 and 3,000 positions by the beginning of next month.

Until December 2024, the organization had about 18,600 permanent and temporary staff plus 3,500 temporary project employees.

Paramount Skydance has not yet commented on the matter.