"Paramount Skydance is laying off about 1,000 employees - and it's only halfway done with its cuts. The David Ellison-run company began implementing long-expected layoffs on Wednesday. A source familiar with Paramount's plans told Business Insider the company is eliminating 2,000 positions total, which means Paramount staffers should brace for roughly 1,000 more cuts. The timeline of the next round of job cuts is unclear."
"Ellison, the new Paramount Skydance CEO, officially informed employees that the cuts were coming in an internal memo sent on Wednesday at 6:27 a.m. ET. He didn't specify the number of cuts in the memo, which was viewed by Business Insider. "When we launched the new Paramount in August, we made clear that building a strong, future-focused company would require significant change - including restructuring the organization," Ellison said in the memo."
"Paramount employees told Business Insider that they were on edge after years of job cuts. A marketing strategy employee said earlier this week that layoffs were "awful and stressful," but added that they're "used to it." The company also told staffers in September that they'd have to return to the office five days a week in 2026, or else take a severance package."
Paramount Skydance began layoffs of about 1,000 employees, with roughly 1,000 additional cuts expected, totaling around 2,000 eliminated positions. New CEO David Ellison cited the need to restructure the organization to build a future-focused company. Ellison pledged $2 billion in cost savings tied to the Paramount-Skydance merger. Employees reported anxiety and familiarity with prior rounds of job cuts. The company informed staff that they must return to the office five days a week in 2026 or accept a severance package. Ellison has invested in content, including US UFC rights, a Call of Duty movie, and buying The Free Pres for CBS News.
Read at Business Insider
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