"David Ellison, the chief executive of Paramount Skydance, announced the cuts in a memo to all staff on Wednesday morning. In some areas, we are addressing redundancies that have emerged across the organization, he wrote. In others, we are phasing out roles that are no longer aligned with our evolving priorities and the new structure designed to strengthen our focus on growth. Ultimately, these steps are necessary to position Paramount for long-term success."
"One CBS News staffer described the cuts as a bloodbath, saying they were wide-reaching and affected a number of departments. As part of the cuts, the network has closed its Johannesburg bureau and is cancelling its CBS Mornings Plus and CBS Evening News Plus streaming shows. The network's race and culture unit was gutted. One concerned CBS News staffer who was not authorized to comment described the process as nerve-racking. Seems no one is safe, the person added."
CBS News implemented layoffs affecting fewer than 100 staffers as part of a broader $2 billion cost-cutting initiative tied to Paramount's merger with Skydance. Paramount will lay off about 1,000 staffers on Wednesday, with plans that could double that number over time. The cuts closed the Johannesburg bureau, cancelled CBS Mornings Plus and CBS Evening News Plus streaming shows, and gutted the network's race and culture unit. Staff described the reductions as wide-reaching and nerve-racking. David Ellison, Paramount Skydance CEO, framed the steps as addressing redundancies and phasing out roles not aligned with evolving priorities.
Read at www.theguardian.com
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