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Paramount Skydance to cut 2,000 US jobs starting week of October 27, Variety reports
Paramount Skydance aims to save $2 billion post-merger by cutting about 2,000 U.S. jobs, impacting all divisions including theatrical, streaming, and linear.
- The week of October 27, Paramount Skydance will begin a broad reduction in force, with the initial round expected to eliminate around 2,000 U.S. employees, Variety confirmed.
- David Ellison's post-merger plan targets $2 billion cost-savings after Skydance closed the acquisition on August 7.
- Cuts will span theatrical, streaming, linear TV and networks including CBS, following a 3.5% reduction of domestic staff in June and about 18,600 employees as of Dec. 31, 2024.
- Paramount has scheduled its Q3 earnings call for November 10, with the first round of cuts in late October and continued reductions expected through year-end.
- Despite the cuts, the company has committed to major content investments, including a $7.7 billion UFC deal and a potential $60 billion bid for Warner Bros Discovery, according to CEO David Ellison.
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Paramount Skydance to cut 2,000 jobs starting final week of October: report - nypost.com
Paramount Skydance to cut 2,000 jobs starting final week of October: report nypost.com Article Attribution | Read More at Article Source The post Paramount Skydance to cut 2,000 jobs starting final week of October: report – nypost.com appeared first on RocketNews.
Paramount Skydance to cut 2,000 US jobs starting week of October 27, Variety reports
Paramount Skydance will begin mass layoffs the week of October 27, eliminating around 2,000 U.S. jobs as part of a $2 billion cost-cutting plan under new CEO David Ellison, Variety reported on Saturday.
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Total News Sources23
Leaning Left4Leaning Right4Center6Last UpdatedBias Distribution43% Center
Bias Distribution
- 43% of the sources are Center
43% Center
L 29%
C 43%
R 28%
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