Paramount Layoffs Will Be “Painful” But One & Done, Jeff Shell Promises; David Ellison Keeps Timeline Private For Now

Paramount president Jeff Shell will cut $2 billion in ‘painful’ belt-tightening after troubled Skydance merger

Shell made it clear during a press conference in Los Angeles on Wednesday that Paramount -- which was acquired by Skydance Media last week-- will likely endure over $2 billion in cuts in one fell swoop.

Paramount Layoffs Will Be “Painful” But One & Done, Jeff Shell Promises; David Ellison Keeps Timeline Private For Now

Looking to save $2 billion and having handed out more than $9 billion to UFC and the South Park guys in the last two weeks, everybody knows that David Ellison’s Paramount is going to have to make some deep cuts. Those cuts are likely going to be coming in one fell swoop, Paramount president Jeff […]

And Here Come the Cuts

In the latest chapter of Hollywood's unrelenting wave of consolidation and cost-cutting, the industry is bracing for another significant impact. All eyes are on Paramount, where new owner David Ellison is facing the brutal arithmetic of modern media: after committing more than $9 billion for high-profile assets like UFC and the creators of South Park, his leadership team is now tasked with finding $2 billion in savings.For the studio's employees…

channelnews : Paramount Skydance to Cut $3B in “One-and-Done” Layoffs

Paramount Skydance’s new president Jeff Shell said the company will cut up to US$2 billion (A$3 billion) in costs in a single wave of restructuring – a move he admits will be “painful” but designed to avoid the ongoing drip-feed layoffs seen under previous leadership. Speaking at a press conference alongside CEO David Ellison, Shell said the company, which was formed from Skydance Media’s recent US$8.4 billion ($A13 billion) acquisition of Param…