Skydance Paramount plans to begin large-scale job cuts beginning on 27 October, removing nearly 2,000 positions in the United States as part of a budget-saving initiative totaling $2bn under new chief executive David Ellison.
The workforce reduction are a result of the merger of Skydance Media and Paramount Global, which closed in August valued at $8.4bn.
More international job cuts are likely, as the firm intending to disclose all specifics in its third quarter earnings report scheduled for November 10.
Prior news stated the firm planned to reduce between 2,000 and 3,000 positions by early November.
As of December 2024, the organization retained nearly 18,600 workers on full-time and part-time contracts plus 3,500 project-based staff.
The company has not yet commented to a request for comment.
