The Skydance owned Paramount is expecting to begin pink slipping around November, we understand.
Deadline is told by myriad sources that it’s about the dollar figure amount as far as job cuts go, not necessarily the headcount, though the number of positions being eliminated across theatrical, streaming, linear, and all division is expected to number around 2,500 to 3,000.
While it’s been out there the incoming Skydance team led by David Ellison was working with Bain & Company to identify at least $2 billion in costing efficiencies, the cuts are bound to exceed that. Ellison did emphasize that cost cutting is bound to “exceed” $2 billion at the Paramount press conference last week.
Manager will be submitting their list of dismissals between September and October to HR.
“We do not want to be a company that has layoffs every quarter,” Paramount President Shell told the media at the new conglom’s presser last week, “So, it’s going to be painful. It’s always hard, but we don’t want to be a company that every quarter is laying people off.”
“So, it is important for us to get done what we’re doing in one big thing and then be done with it,” added Shell.
Paramount counts 18,000 employees from around the globe while Skydance has a staff that’s under 2,000.
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