BUSINESS

Paramount begins steep layoffs as David Ellison reshapes the media giant

Paramount, newly merged with Skydance under CEO David Ellison, will cut about 10% of staff as reorganization ripples from the studio to CBS News and Comedy Central. Roughly a thousand jobs are being eliminated this week, with another thousand expected soon. In a memo, Ellison said the moves address redundancies and realign roles for growth. At CBS News, nearly 100 positions will go, said a person who noted the cuts preceded Ellison’s appointment of Bari Weiss as editor-in-chief following the purchase of her startup, The Free Press. Ellison has pursued Warner Bros. Discovery, whose board began a strategic review.

Reviewed by JQJO team

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