I hate this period of not knowing so I am trying to get a sense of when these would happen. I know no one knows yet, but does anyone have any guesses or inside information?
27 replies (most recent on top)
@aq As a former long-term employee, that's all the programming ever was; RUBBISH!
@g2 the strategy is to cut to save money. The difference between 4k and 8k is that you have a better chance of getting laid off if it’s 8k. With your grasp of numbers I’m going to assume you’re in accounting. Which is why we are in this situation.
@bv it will be before earnings.
It would also be helpful to know if any particular office closures are part of the cost reduction plan.
To those guessing numbers, I don’t get the difference to us whether it’s 4k or 8k. I can get fired under either number if I’m in a non desirable group. More important to understand their strategy.
@ff why can’t you say. This is an animus board. Just share what you got.
@ex 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.
@ed I can’t say but it’s a few thousand but nowhere near the 8,000 someone said.
It’s not going to be 8k definitely but it could be around 20% reduction before the next earnings call to show profits margins.
8000 seems wild even if it's global work force but yeah that's the math ...
@ed just do the math. Last year layoff of 2k people saved $500m. There will be savings from other stuffs like real estate, etc. But that should give you some ideas.
curious if the HR person knows total count approx for layoffs people are saying multiple thousands ...
earnings report is november 7- so that would be very early november
I don’t know any specifics but makes sense to have the cuts before the call.
@ap can you at least tell us if they’ll be before or after the earnings call in November? Shell mentioned they’d have more info about reductions in their November call but the wording isn’t clear on whether that means they’ll make cuts and then report them on the call OR they’ll inform of their plan on the call and carry those plans out afterwards.
Based off google ai the company’s next results will probably be reported early November. Figure the layoffs happen before then so that they can announce whatever savings they’ve got. I know that’s still a big window, but at least lets us know it’s sometime before thanksgiving.
@ap dude why would you come on here and listen to all these people’s anxiety and not share what you know.
@ap I’ll clean your house for a year every weekend if you tell me privately that I’m safe lol
@ap can you give the month please?
i think that september date is people misreading the WARN notice. That 9:8 date is for the June layoff if you look across to the notice date ..
we aren't being actually warned - they just buy us out of the warn money .
@ap rumor I head is around thanksgiving. Typical trends show 90 days after mergers layoffs happen.
Nobody likes so many commercials and cut cable. Good luck as no one is watching like in previous epocĥes. Many other options with high quality entertaining online. No future in free televisión with unending commercials. Shame shame to these people's. We are too busy to watchiŋg rubbiśh
September date is lies. Stop believing these people. I am in HR with first hand knowledge. No action is happening in September. I won’t give the date but it’s fall.
Honestly this is just all so terrible. I’ve survived 4 rounds of layoffs in my short time here. We are incredibly overworked because they cut so many people in the last two years that we are now handling triple the workload. Combining a tech stack just doesn’t happen in a few weeks.
Any theories as to what departments are getting trimmed? I work in streaming and we are handling four brands at once. What fat is there to lose?
Everyone I work with is so kind and dedicated and dependable. If our culture was toxic, I would not feel as bad. But we’ve hired so many great people so it’s depressing.
In the next two weeks I’m going to update my resume and start applying for roles, something I thought I’d never have to do for maybe another few years.
9/6 is a Saturday ...
9/8 date on the NY WARN website notice reflects the June 10th layoffs. (90 days after 6/10)
Legacy Paramount employees are used to Tuesdays but now that Skydance is in charge, who knows if Tuesdays are the day anymore.
I would think they would want to do layoffs before reorg tho ... but given that the Fall slate of big shows is in full swing it would be pretty chaotic to do layoffs in Sept. so then Nov. would make a lot more sense ... ???
Weeeeeeeee
is the 9/6 date the very large one that Shell mentioned in the trades?
because another date mentioned repeatedly was november
9/6