Copyright Adweek
Amid Paramount Skydance’s mass layoffs, CEO David Ellison has sent a memo to staff explaining the changes. Paramount Skydance is cutting roughly 1,000 positions on Wednesday, with another 1,000 reportedly planned for later. And in the memo, which ADWEEK obtained, Ellison noted that the company wanted to be as “open and direct as possible” about the layoffs. “In some areas, we are addressing redundancies that have emerged across the organization. In others, we are phasing out roles that are no longer aligned with our evolving priorities and the new structure designed to strengthen our focus on growth,” Ellison wrote. The CEO noted that the changes are “necessary” to position the company for success. Wednesday’s cuts represent around 5% of the recently merged organization. The cuts will reportedly affect divisions across Paramount, including CBS, CBS News, Comedy Central, and others. See the full memo below: Dear All, When we launched the new Paramount in August, we made clear that building a strong, future-focused company would require significant change – including restructuring the organization. As part of that process, we must also reduce the size of our workforce, and we recognize these actions affect our most important asset: our people. We want to be as open and direct as possible about the reasons behind these changes. In some areas, we are addressing redundancies that have emerged across the organization. In others, we are phasing out roles that are no longer aligned with our evolving priorities and the new structure designed to strengthen our focus on growth. Ultimately, these steps are necessary to position Paramount for long-term success. That said, today we begin the difficult process of informing impacted team members across the company. These decisions are never made lightly, especially given their effect on our colleagues who have made meaningful contributions to the company. To this end, we are committed to supporting all employees through this transition. Members of our HR team will be working closely with business unit leaders to share detailed information on benefits and transition services. Additional questions can be directed to xxxxxxxx. We are deeply grateful for your hard work, professionalism, and resilience during this period of transition. We remain confident that Paramount’s best days are ahead, and we’re committed to building a strong foundation for the future.
