This sounds a bit too much, but then again…
6k is 1/3. That’s the number. That gets the staffing to about 12k which is roughly half of what it was pre covid. That’s a huge reduction. With increasing output and content the goal is double the revenue of pre covid with half the staff. That’s how you turn a profit.
OP: @fh+1k2wpserx
@k4 skydance doesn’t have anywhere near enough employees to stick in place of legacy paramount. Maybe they can do it with execs. Other option I guess is fire legacy paramount and hire new people
@e3 Right? And as the new Skydance-selected leadership settles into their new roles, surely they're going to want to oust anyone who's not suitably Skydancey, which will happen on a drip-drip-drip over the next six to twelve months. By this time next year, it's likely that very few "legacy" Paramount employees will be left.
Remember for anyone that has RSU's and you are let go. The double trigger vesting will kick in and all your outstanding RSU's will immediately vest
I’ve heard all the one and done talk, but it’s not real. Yes they’ll cut a bunch at once but I can’t see how there don’t continue to be layoffs every year as they find more things to cut. Maybe it won’t be 1000 next year but a few hundred every year (or 2x a year) will add up. Plus folks are right that they are not counting the remote policy as a firing but that’s what it is (and I’m sure it’s in addition to the 2billion)
If they do require in person, I would recommend if you are going to quit to let them terminate you and email to be clear that you will continue and are willing to work remotely. At least then most states would give you unemployment.
From what I’ve heard internally it’s going to be “one and done”. They want to get this done and move forward.
@ay any info on if RTO is to the office you were assigned to/worked out of before covid or are they reassigning everyone based on teams?
Even if you had an exception before, I think each dept will be pushed hard to evaluate whether your job involves some level of collaboration that would benefit from in person. Also if you’re on a team and the only one remote it might not be good for you. Maybe bosses can make a case for you for an exception but it also gives them an excuse to can u. If u have good skills I’d hope you are ok
In the town hall he was asked about the return to office thing. He didn't give specifics or a timeline, but he did give an answer that does indeed sound like a return to office requirement is coming in general, but he said something to the effect of "one size doesn't fit all." That tells me there will be exceptions, but those exceptions will likely be few and far between and evaluated individually. Just speculation from his answer in the town hall.
Is it going to be 4 days a week back to office or 5?
@b0 There will always be exceptions, but don’t expect too many special cases.
@ay how does that work for teams or people that have been remote since before Covid or hired remote to start due in other countries due to lack of talent for very niche roles?
@ay what about remote workers who have always been remote? I.e live in a state where it’s not possible to commute to a corporate office. Do we think any exceptions will be made? Or they will be given a choice to move or be let go?
@ap I cannot provide too much detail, but wait for a message in September about the old school back to office plan. If you are remote, you will be given a choice. Go back to the office or you will be forced to quit.
@am interesting, so it’s not one and done like Shell said? Are you someone with inside knowledge?
Just adding to last post. what if you’re not remote but in a place like ny and your departments new base is in la? They could pressure people to move to another coast and, even if you don’t have to move, you’ll be at a disadvantage for promotions, etc. if you stay put…
@a6 names will be in during September for the end of October layoff. Remember they have to do legal review. To the original poster it’s not that many probably half that for round 1. Yes round two will come in 2026 but they will want to see how many people quit with the old school back to work policy.
Wouldn’t be surprised. They’re probably going to fire most of the cable employees and consolidate any marketing and other functions since any tv content investment going forward will be streaming and cbs. Cable will just have the bare minimum content to get fees from cable cos. Maybe some new content still for Nick/bet. CBS news will probably have lots of layoffs as they are a money loser. Probably some redundancies with Skydance in a few areas in tv and film (or just Skydance execs who feel their people are better/should be in charge of prior bosses). They must have had consultants figuring this out for them as others have mentioned. This is all just my guess, but can anyone think of other areas (besides hoping they fire your least favorite person/boss;)?
and if it's set for pre earnings which is first week in november - i would imagine this is the last week october - really seems like the names would be in ..