[US] Paramount employees react to ‘deeply unsettling’ merger job cuts

In the US, Paramount employees across the group's film, television and news divisions have described the recent job cuts, connected to its recently completed merger with Skydance Media, as abrupt and deeply unsettling, HR Grapevine reports.

More than a thousand job losses have occurred in the wake of the merger to date, and another round of similar size is expected. Roughly 10 per cent of the studio’s 20,000 employees will ultimately be affected.

Many employees have reportedly expressed their concern about the scale and pace of the changes.

One longtime CBS News staff member told Variety, “I’ve lost a lot of friends. A lot of really great writers and journalists have lost their jobs… It’s devastating.” Their experience was shared by another executive who called the shift “a new way of doing business” and added that “they didn’t show a lot of respect.”

“I’ve been through mergers before,” another former executive told the publication, “and there’s no other word to describe this one than 'merciless'.”

According to recent reporting, women in senior roles were disproportionately affected. Of the around 14 television executives dismissed, 11 of them were women. A source close to the company reportedly maintained that these decisions were linked to structural realignment and not gender or political considerations.

In an internal memo, CEO David Ellison stated that the reductions were essential to “position Paramount for long-term success.” 

Mr Ellison referred to overlapping functions across departments following the merger and suggested that the new structure would be more efficient in focusing on priority content and platforms.

The deal was reportedly promoted as a way to connect Paramount’s historical film library and global network with Skydance’s technology and production capabilities. When the merger was finalised, leaders described it as a “new path forward” intended to strengthen competitiveness in a shifting media environment.

Source: HR Grapevine

(Quotes via original reporting)

In the US, Paramount employees across the group's film, television and news divisions have described the recent job cuts, connected to its recently completed merger with Skydance Media, as abrupt and deeply unsettling, HR Grapevine reports.

More than a thousand job losses have occurred in the wake of the merger to date, and another round of similar size is expected. Roughly 10 per cent of the studio’s 20,000 employees will ultimately be affected.

Many employees have reportedly expressed their concern about the scale and pace of the changes.

One longtime CBS News staff member told Variety, “I’ve lost a lot of friends. A lot of really great writers and journalists have lost their jobs… It’s devastating.” Their experience was shared by another executive who called the shift “a new way of doing business” and added that “they didn’t show a lot of respect.”

“I’ve been through mergers before,” another former executive told the publication, “and there’s no other word to describe this one than 'merciless'.”

According to recent reporting, women in senior roles were disproportionately affected. Of the around 14 television executives dismissed, 11 of them were women. A source close to the company reportedly maintained that these decisions were linked to structural realignment and not gender or political considerations.

In an internal memo, CEO David Ellison stated that the reductions were essential to “position Paramount for long-term success.” 

Mr Ellison referred to overlapping functions across departments following the merger and suggested that the new structure would be more efficient in focusing on priority content and platforms.

The deal was reportedly promoted as a way to connect Paramount’s historical film library and global network with Skydance’s technology and production capabilities. When the merger was finalised, leaders described it as a “new path forward” intended to strengthen competitiveness in a shifting media environment.

Source: HR Grapevine

(Quotes via original reporting)