Paramount Pictures Accelerates Job Cuts Ahead of Earnings Call | AI News Digest
Paramount Pictures is poised to initiate substantial layoffs earlier than previously anticipated, with job cuts expected to begin the week of October 27. Initially slated for early November, the reductions are estimated to affect between 2,500 and 3,000 employees, including roughly 2,000 positions in the United States. This move comes in the wake of the company's recent merger with Skydance, prompting a reassessment of its workforce and operational expenditures. The layoffs are part of a comprehensive plan aimed at achieving approximately $2 billion in savings, with additional cuts expected to follow through the end of the year. While Paramount's executives have characterized these layoffs as a one-time adjustment, concerns linger regarding their effects on employees and the company's long-term outlook.
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