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Paramount Skydance Mass Layoffs to Start Week of Oct. 27

Y2kTheNewOldies

Y2kTheNewOldies

variety.com

Paramount Skydance Mass Layoffs to Start Week of Oct. 27

Paramount Skydance will lay off about 2,000 U.S. employees under David Ellison's new management regime starting the week of Oct. 27.
variety.com variety.com

This has been mentioned for some time as a result of the merger between Paramount and Skydance.

Major job cuts have been expected even before the Skydance Media-Paramount Global deal closed, as part of Ellison and his team’s goal of slashing upwards of $2 billion in costs. Previously, the company had been targeting layoffs by early November. The new round of cuts is expected to eliminate around 2,000 jobs in the U.S., with additional layoffs internationally.At an Aug. 7 press conference in New York, just hours after the $8 billion Skydance-Paramount merger officially closed, Jeff Shell, the ex-CEO of NBCUniversal who is now president of Paramount Skydance, told reporters that the company would make cost cuts and layoffs as swiftly as possible and be disclosed by the company’s third-quarter 2025 earnings report to investors in November. On Friday, Paramount Skydance announced it will report Q3 financial results on Nov. 10 after the market closes.
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Ever get the feeling that the entire media industry is shrinking down to nothing? Makes me worry that in a few years it'll be just a couple of PCs running some kind of kludge format and a couple of kids in a garage some where doing podcasts.
 
bigdonho said:
Ever get the feeling that the entire media industry is shrinking down to nothing?
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That depends on what you call "media" which, to me, is any mass diffusion of information and entertainment.

In other words, nobody in their garage is going to be broadcasting the Super Bowl live.
 
davideduardo said:
That depends on what you call "media" which, to me, is any mass diffusion of information and entertainment.

In other words, nobody in their garage is going to be broadcasting the Super Bowl live.
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Well, media includes print publications, broadcast radio and television. Yes, you have the World Series, Super Bowl, NBA and NHL playoffs and a few other things of that ilk. But things like the coverage of the Iraq War, a major earthquake or other very timely events; will there be the infrastructure around to cover those things in a meaningful way?
 
bigdonho said:
Ever get the feeling that the entire media industry is shrinking down to nothing? Makes me worry that in a few years it'll be just a couple of PCs running some kind of kludge format and a couple of kids in a garage some where doing podcasts.
Click to expand...

It's not shrinking, it's shifting. Shifting away from linear TV channels, giant movie production studios, big budget television shows, broadcast radio, etc.. to streaming video on demand (Netflix/Prime/Peacock/Disney/Paramount), influencers/creators/Youtubers, Spotify/Pandora/iHeart, AI created content, etc..
 
DavinaR said:
Sixty Minutes to soon have a shake up of anchors.
nypost.com

Exclusive | CBS News boss Bari Weiss eyes major shakeup at ‘60 Minutes’ — and star anchors could get the ax: sources

CBS News editor in chief Bari Weiss is looking to shake up the iconic TV news magazine — and casualties could include any number of the show’s star anchors, The Post has learned.
nypost.com nypost.com
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It's a sad state of affairs when almost all legacy media are forgoing fair and objective reporting to appease a tyrannical regime in pursuit of the further enrichment of a few obligarch owners.
 
rparky54 said:
It's a sad state of affairs when almost all legacy media are forgoing fair and objective reporting to appease a tyrannical regime in pursuit of the further enrichment of a few obligarch owners.
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It's an even sadder state when the public doesn't recognize what's happening, and doesn't do anything about it.

The public has been trained to dislike the media, so none of this matters to them.
 
bigdonho said:
Ever get the feeling that the entire media industry is shrinking down to nothing? Makes me worry that in a few years it'll be just a couple of PCs running some kind of kludge format and a couple of kids in a garage some where doing podcasts.
Click to expand...
The “media” is by no means alone. Industry everywhere in the country is shrinking. Recent job losses announced are staggering, and portend a widespread crisis to come.
 
TheBigA said:
Here's another version of the story:

deadline.com

Paramount Layoffs Hit CBS News: Morning And Evening Streaming Shows Canceled, Saturday AM Hosts Out Amid Overhaul, Johannesburg Bureau Closed

Paramount's cuts across the company hit CBS News on Wednesday, with the streaming editions of CBS Mornings and the CBS Evening News canceled.
deadline.com deadline.com

Everyone knew this was happening. The union says consolidation is to blame. But the real reason is that fewer people are watching linear broadcast TV.
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The streaming shows were cut, not the linear broadcast TV shows.
 
radiofan2023 said:
The streaming shows were cut, not the linear broadcast TV shows.
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That is correct. CBS Mornings Plus and CBS Evening News Plus were only cleared on a few CBS owned-stations, and that didn't even include New York or Philadelphia. The overhead was too high for shows few people were able to watch.

CBS Saturday Morning is also being folded into the weekday morning show so everyone on it was cut. Also seeing some scuttlebutt that the owned-stations themselves were not spared from this.
 
tall_guy1 said:
I have Paramount Plus and didn't know the streaming versions were different.
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If you have a Roku or Amazon Fire stick, you can find the Live TV channel listing, where CBS News has a 24-7 streaming service. The "Plus" programs air there. But the few times I watched them, they didn't seem worth the time. CBS News has been a pale shadow of its former self for much too long, trying to substitute sizzle (i.e., formatics or flashy graphics) for substance. Sadly, they're not the only culprit doing that.
 
deadline.com

Paramount Layoffs Hit Motion Picture Execs In Production, Marketing, Music & More; Studio Co-Chairs Say, “Today Has Been A Difficult One”

Paramount cuts hit the motion picture division across production, marketing, music and mark. Randy Spendlove President of Worldwide Music is exiting.
deadline.com deadline.com

variety.com

Paramount Layoffs Underway: CEO David Ellison Says Cuts Are ‘Necessary’ for Company’s Long-Term Success

Paramount Skydance is laying off about 1,000 employees. Chairman and CEO David Ellison sent employees a memo about the companywide cuts.
variety.com variety.com

deadline.com

List Of Hollywood & Media Layoffs From Paramount To Warner Bros Discovery To CNN & More

Media layoffs have unfortunately become a trend as Hollywood continues to readjust after two strikes and Covid plus the advent of streaming and A.I.
deadline.com deadline.com

deadline.com

Paramount Layoffs Impact TV Executives Across CBS, MTV, BET & Distribution

A number of television executives have been impacted by the major round of layoffs at Paramount.
deadline.com deadline.com

Here is more fallout from the Paramount layoffs.
 


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