CBS parent company Paramount Skydance to cut 1,000 jobs this week in first round of layoffs: reports
US media giant set to axe 1,000 jobs after controversial merger
- Paramount Skydance plans to lay off approximately 1,000 employees this week, with another 1,000 expected to follow, as part of an ongoing restructuring.
- These job cuts are a consequence of the entertainment company's controversial merger in August, which brought CBS News, MTV, and Paramount+ under the control of David Ellison.
- The merger was preceded by Paramount paying President Donald Trump $16 million to settle a lawsuit, a settlement critics described as “bribery” to secure regulatory approval.
- Since the takeover, CBS News has faced criticism for a perceived shift in its editorial direction to the right, with new appointments including Bari Weiss as editor-in-chief.
- Paramount president Jeff Shell acknowledged the layoffs would be “painful” but stated they were necessary to avoid recurring quarterly job reductions.