US EditionFormer Paramount Executive Says "You Need to Blow It Up"
Paramount Skydance aims to cut 2,000 to 3,000 jobs worldwide by early November to achieve over $2 billion in savings after an $8 billion merger amid shifting media consumption.
- Following its recent $8.4 billion merger with Skydance Media, Paramount Global plans to reduce its workforce by approximately 2,000 to 3,000 staff members across multiple divisions before early November.
- The planned layoffs are intended to help Paramount realize cost savings exceeding $2 billion as the company navigates challenges from a decline in traditional cable and broadcast audiences shifting toward streaming platforms.
- After the merger, new CEO David Ellison quickly ramped up content investment, securing a $7 billion, seven-year exclusive agreement for UFC and signing a four-year partnership with the creators of Stranger Things, the Duffer Brothers.
- By the end of 2024, Paramount's workforce included close to 18,600 full- and part-time employees along with an additional 3,500 project-based staff, while the company generated $2.2 billion in revenue from its direct-to-consumer segment during the last quarter.
- Paramount leadership reiterated it will redefine many cable networks rather than spin them off, and former exec Doug Herzog said the company will not closely resemble its current form in 24 months.
19 Articles
19 Articles
Former Paramount Executive Says "You Need to Blow It Up"
The recent $8.4 billion merger between Paramount and Skydance is set to reshape the legacy media giant into a markedly different entity within the next two years, according to Doug Herzog, a former top executive at Viacom, now part of Paramount. Speaking on the TV of Tomorrow podcast, Herzog, who once led Viacom’s Music Entertainment […] The post Former Paramount Executive Says “You Need to Blow It Up” appeared first on Cord Cutters News.
“You Need To Blow It Up”: Former Comedy Central Chief Doug Herzog On Paramount’s Future
Doug Herzog, a former top exec at Viacom (now part of Paramount) says his alma mater will soon look a lot different in the wake of its just-closed merger with Skydance. “I would believe that 24 months from now, when we take a look at Paramount, it will not closely resemble what it is today,” […]
Up to 3000 jobs in all sectors are affected by the plans. At the beginning of the week, the new company announced a billion-dollar investment.
Reports: Paramount likely to fire thousands of employees in November
(Still frame via promotional video, courtesy Paramount Global / CBS News & Stations; Graphic by The Desk) Key Points: Paramount Global is preparing to lay off between 2,000 and 3,000 employees by early November, aligning with its Q3 2025 earnings report, as part of post-merger cost-cutting efforts. New CEO David Ellison has moved quickly to boost content investments, including a $7 billion UFC rights deal and a four-year exclusive agreement wit…
Los Angeles (USA), Aug 22 (EFE).- The media conglomerate Paramount, owned by Skydance, will experience in early November a new round of cuts that will involve 2,000 to 3,000 workers, according to Deadline magazine. It is expected that the number of jobs that will be reduced will affect film departments, online platform and other divisions, said the specialized magazine citing sources of knowledge with the subject. Paramount’s wave of cuts would …
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