"Paramount Skydance will begin mass layoffs the week of 27 October, eliminating about 2,000 US jobs as part of a $2bn cost-cutting plan under new chief executive David Ellison, Variety reported on Saturday. The layoffs follow the $8.4bn merger between Skydance Media and Paramount Global, which closed in August. Additional international job cuts are expected, with the company aiming to disclose full details in its third quarter earnings report on 10 November, the report added."
"The layoffs follow the $8.4bn merger between Skydance Media and Paramount Global, which closed in August. Variety had reported on 22 August that Paramount was looking to cut between 2,000 and 3,000 jobs by early November. As of December 2024, Paramount had nearly 18,600 full- and part-time employees, and 3,500 project-based staff. Paramount Skydance did not immediately respond to a Reuters request for comment."
Paramount Skydance will begin mass layoffs the week of 27 October, eliminating about 2,000 US jobs as part of a $2bn cost-cutting plan under new chief executive David Ellison. The layoffs follow the $8.4bn merger between Skydance Media and Paramount Global, which closed in August. Additional international job cuts are expected, with the company aiming to disclose full details in its third quarter earnings report on 10 November. Earlier reporting indicated consideration of cutting between 2,000 and 3,000 jobs by early November. As of December 2024, Paramount had nearly 18,600 full- and part-time employees and 3,500 project-based staff. Paramount Skydance did not immediately respond to a request for comment.
Read at www.theguardian.com
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