Joining the recent wave of layoffs, Paramount Skydance is expected to announce 1,000 job cuts on Wednesday, a Bloomberg report said citing sources familiar with the matter. The report further added that a second round of layoff will be announced later which will take the total number of job cuts to 2,000.

Reason behind Paramount Skydance laying off 2,000 employees

The news of layoffs come just weeks after Skydance Media and Paramount Global officially joined hands in an $8.4 billion merger. The move is reportedly a part of efforts to turn the company into a new entertainment giant under CEO David Ellison . Since the merger, Ellison and President Jeff Shell have been open about their plan to cut costs and rebuild the company’s structure. “We do not want to be a company that has lay

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