Media conglomerate Paramount began cutting a thousand jobs this week as part of a new wave of cuts following the merger with Skydance, Variety reported this Monday.
Paramount said last August that it would cut between 2,000 and 3,000 jobs, a process that would begin between late October and early November.
This process is part of a cost reduction program that is presumed to exceed $2 billion, and would affect departments such as cinema and the online platform, among other divisions.
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Skydance Media and Paramount Global announced on August 7 the official closing of their merger, consolidating the acquisition of one of the most emblematic studios in Hollywood after more than a year of negotiations.
This operation marks a new stage for the group led by David Ellison, son of the founder of Oracle, who seeks to modernize the historic studio’s catalog and strengthen its presence on digital platforms such as Paramount+.
The green light came shortly after on July 22, US President Donald Trump announced an agreement with the Paramount group of more than $36 million to close the litigation related to the interview that the CBS network, owned by the company, conducted in 2024 with his then electoral rival, Vice President Kamala Harris, for the program ’60 Minutes’.
With information from EFE.
