It's clear after all of last week's press events and what Ellison said during his CNBC interview that layoffs are coming. They also said that they are not going to do "death by 1000 cuts" like our former senior management did...meaning it is likely that they are going to do the majority of the layoffs in one fell swoop. Puck newsletter says " In the meantime, Paramount employees must wait a bit for the expected mass layoffs, which will likely happen by the end of the quarter and, I’m told, occur all at once, rather than the rolling massacre we’ve endured at Warner Discovery and Disney. The $2 billion in promised cuts will be deep." Hollywood Reporter story says thinking is by Q3 earnings call in November. Would be great if they are honest and give the staff the date so all can plan as best everyone can.
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@vn last September was a massive layoff right after the VMAs. I wouldn't be shocked if the same thing happens again.
Anybody heard 9/9? Only so many Tuesday’s in Sept.
@fc do you have internal source? How soon after VMA?
The pre- Skydance layoffs were done on behalf of skydance. Don’t hold your breath for any company to conduct layoffs with any regard for you. There will be a round of layoffs after the VMA.
@c4 agree
@c2 no, there isnt
@c1 all that poster did was repeat what was said in the trades. Bain had their plan and yea it’s big but people on here talking about back ally shutting down tech are wrong.
@by new CTO is coming.
there's a post about tech cuts identified by Bain - you can search back for the thread said it would be a massive reduction -
@bw thank you. When will they announce PW as CTO?
Agree there will be lots of changes to tech teams, but don’t think that there is some “tech bro” who can easily come in and solve problems like interface and algorithm. It will require serious investment that Disney peacock and others either haven’t been willing to do or just can’t execute.
@be “vast majority of tech I.t job” ha… they’ve already been hit hard and pw is cto now. Look for cuts in areas that are redundant aka marketing and distribution.
there’s going to be a first wave layoff in the fall to cut some bloat and redundant titles across all pillars.
Then there’s got to be a big streaming layoff coming soon after. Ellison should have already contracted out building new apps with max machine learning and automation. Would be a layup for a techbro to come in and build it all up in secret while the streaming staff keeps the subscription services running. Once the new app is ready they cut over all the shows and cut the staff. Too bad and not the fault of the people who will be eliminated. There is just no future in an outdated machine built on the wreck of other outdated machines.
What will they probably see as the low-hanging fruit?
Vast majority of tech and I.T. jobs. All corporate-level functions in NYC. Planning and design/facilities teams. The entire remaining staff at the suite of cable networks. All of CBS corporate. Most of CBS News, to clear the way for the maleficent Bari Weiss and her minions. Anyone who their AI bots catch posting about Palestinian rights or posting here on The Layoff. And while they've promised to keep ad sales as a NY-based operation, it's a safe bet that they're going to farm a great deal of that (and everything else) out to tech bro vendors who claim they can do it for pennies on the dollar.
@a7 Correct
@a6 Nobody said it, but it has been the plan for the merger. Senior leadership knows about it.
@a4 Who said that?
Layoffs should be in November. The plan was merger plus 90 days