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Paramount Skydance Will Cut Around 2,000 US Jobs – Update
Paramount Skydance is scheduled to begin large-scale job cuts the week of 27 October, removing nearly 2,000 positions in the United States under a expense reduction strategy worth $2bn under CEO David Ellison.
The layoffs are a result of the union between Skydance Media and Paramount Global, which closed in August with a value of $8.4bn.
More international job cuts are likely, as the firm aiming to disclose all specifics via its Q3 financial results set for the 10th of November.
Earlier reports had indicated that Paramount was looking to reduce between 2,000 and 3,000 jobs before the start of November.
As of December 2024, Paramount employed nearly 18,600 workers on full-time and part-time contracts plus 3,500 temporary project employees.
Paramount Skydance has not provided a response regarding the report.
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