Part 2/10:
Paramount Sky Dance revealed that these layoffs are widespread, affecting all segments of its business—film, TV, streaming, and corporate operations. This is part of a larger effort to streamline the company's operations amid ongoing industry upheaval. According to reports, an initial 10,000 layoffs have already taken place, with an additional 10,000 expected to follow.
Paramount's CEO, David Ellison, attributed these cuts to the need for strategic restructuring to focus on what he termed “growth businesses.” Among these investments is a nearly $8 billion deal to acquire UFC rights, signaling a shift towards more lucrative sports-related content.