{"id":36704,"date":"2025-10-27T21:21:31","date_gmt":"2025-10-27T21:21:31","guid":{"rendered":"https:\/\/agooka.com\/news\/usa\/david-ellisons-paramount-is-planning-to-lay-off-1000-workers-on-wednesday\/"},"modified":"2025-10-27T21:21:31","modified_gmt":"2025-10-27T21:21:31","slug":"david-ellisons-paramount-is-planning-to-lay-off-1000-workers-on-wednesday","status":"publish","type":"post","link":"https:\/\/agooka.com\/news\/usa\/david-ellisons-paramount-is-planning-to-lay-off-1000-workers-on-wednesday\/","title":{"rendered":"David Ellison&#8217;s Paramount is planning to lay off 1,000 workers on Wednesday"},"content":{"rendered":"<figure><img decoding=\"async\" src=\"https:\/\/i.insider.com\/68fb8bedc007ca8c27379141?format=jpeg\" alt=\"David Ellison\"\/><figcaption>David Ellison&#039;s Paramount Skydance is cutting 1,000 jobs, a person familiar with the plan said.<\/p>\n<p>Patrick T. Fallon\/AFP via Getty Images<\/p>\n<\/figcaption><\/figure>\n<ul>\n<li>Paramount Skydance is planning to lay off about 1,000 employees on Wednesday.<\/li>\n<li>A person familiar with the impending cuts confirmed the plans to Business Insider.<\/li>\n<li>David Ellison&#039;s company is aiming to give investors about $2 billion in cost savings.<\/li>\n<\/ul>\n<p>Paramount Skydance is about to implement its long-anticipated layoffs.<\/p>\n<p>David Ellison&#039;s company is set to eliminate about 1,000 positions on Wednesday, a person familiar with the plans confirmed to Business Insider. Bloomberg was first to report the timing and size of the planned cuts.<\/p>\n<p>Paramount may be planning to shed more jobs later on, as Variety reported in August that the company&#039;s new leadership could let go of 2,000 to 3,000 employees in total.<\/p>\n<p>Ellison promised investors he could deliver $2 billion in cost savings when he merged Paramount with his production company, Skydance. The merger closed in August.<\/p>\n<p>Paramount president Jeff Shell previously said that Paramount&#039;s cuts would be &quot;painful&quot; but swift.<\/p>\n<p>&quot;We do not want to be a company that has layoffs every quarter,&quot; Shell said at a press briefing in August, Deadline reported.<\/p>\n<p>One Paramount software engineer told Business Insider that they hoped leadership would get layoffs &quot;over with soon.&quot;<\/p>\n<p>&quot;It&#039;s awful and stressful, but honestly used to it,&quot; a staffer in marketing strategy said of layoffs at the company, which had multiple rounds of cuts under its previous ownership.<\/p>\n<p>Paramount&#039;s new leaders have also told employees that they&#039;ll have to return to the office five days a week in early January, and offered those who are unwilling to comply a severance package.<\/p>\n<p>Ellison, backed by his ultrawealthy father Larry Ellison, has made major moves since becoming Paramount&#039;s CEO, following the $8 billion merger with Skydance.<\/p>\n<p>He and his team paid $7.7 billion to secure US UFC rights through 2030, lured the &quot;Stranger Things&quot; creators from Netflix, and hired Bari Weiss as the top editor at CBS News while paying $150 million for her contrarian news site, The Free Press.<\/p>\n<p>His potential next move could be his most ambitious: buying Warner Bros. Discovery. Paramount has made three private offers for WBD, CNBC reported last week. WBD said it&#039;s open to selling itself, though it&#039;s in the middle of a spinoff plan that could complicate matters.<\/p>\n<p>Read the original article on Business Insider<\/p>\n","protected":false},"excerpt":{"rendered":"<p>David Ellison&#039;s Paramount Skydance is cutting 1,000 jobs, a person familiar with the plan said. Patrick T. Fallon\/AFP via Getty Images Paramount Skydance is planning to lay off about 1,000 employees on Wednesday. A person familiar with the impending cuts confirmed the plans to Business Insider. David Ellison&#039;s company is aiming to give investors about [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":36705,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":{"0":"post-36704","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-usa"},"_links":{"self":[{"href":"https:\/\/agooka.com\/news\/wp-json\/wp\/v2\/posts\/36704","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/agooka.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/agooka.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/agooka.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/agooka.com\/news\/wp-json\/wp\/v2\/comments?post=36704"}],"version-history":[{"count":0,"href":"https:\/\/agooka.com\/news\/wp-json\/wp\/v2\/posts\/36704\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/agooka.com\/news\/wp-json\/wp\/v2\/media\/36705"}],"wp:attachment":[{"href":"https:\/\/agooka.com\/news\/wp-json\/wp\/v2\/media?parent=36704"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/agooka.com\/news\/wp-json\/wp\/v2\/categories?post=36704"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/agooka.com\/news\/wp-json\/wp\/v2\/tags?post=36704"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}