Paramount Skydance will initiate mass layoffs the week of 27 October, removing about 2,000 US jobs as part of a cost-cutting plan worth $2bn overseen by new chief executive David Ellison.
These job cuts come after the combination of Skydance Media and Paramount Global, completed this past August with a value of $8.4bn.
Further overseas workforce reductions are anticipated, as the firm aiming to disclose full details via its Q3 financial results scheduled for November 10.
Previous updates stated the company planned to cut between 2,000 to 3,000 jobs by early November.
As of December 2024, the organization retained about 18,600 workers on full-time and part-time contracts and 3,500 contract workers.
The organization has not yet commented regarding the report.
