Is this confirmed?
According to my understanding, the decisions are essentially final. They are just waiting for sign-off from the top which should come later this week, then HR can work on the details next week and provide them to line managers late next week.
Also people need to stop saying it won't hit domestically; that is totally wrong. Domestic will be hit, and so will international. All areas of the company are going to see cuts.
OP: @10r+1jvw34st1
The visibility came from people asking about it at the Town Hall, so they had to address it. Since there is no Town Hall prior this time, they are taking the quiet approach.
The key in my mind is that in Danson office hours they said we know there's news about layoffs. We don't have anything "we can share" at this time.
What’s surprising me is that there are no news reports from major outlets about the layoffs. Last year during September layoffs we’ve had a few articles that were forecasting layoffs. This time around no info, aside from this thread.
I am not doubting that the layoffs are happening, but I’m not sure how to interpret the silence in the departments and the news outlets. Or if I should be interpreting this at all, tbh
@wh same my department seems to know nothing so feeling like you said it’s either going to be massive layoffs (potentially bigger than Sept?) that catch most people off guard or it’s going to be minor. It seems like it’s not widespread knowledge considering pre-sept layoffs this site was super active
has anyone heard anything specific - besides the OP - my division seems to know nothing - makes me wonder if it's a massive massive layoff ?
last time there was some communication from the CEOs..
@kz T is also one of my in office days and we haven’t been told to WFH that day yet.
T is one of my in office days Has anyone group been told already to WFH on June 10?
The merger is happening, and Trumpy Dumpty will get his bribe. As far as the cuts post-merger, they have already been planned out, and each group was given a target. The plan is a bit dusty because of the delay, and will need to be refreshed, but it will happen. That's how they will get closer to the 1.5B remaining savings promised.
Layoffs post merger will be interesting. I agree Shari will pay the 25 m - she wants out and Ellison already paid her debt or refinanced some of it - she would owe them huge money.
SD has 1000 ish employees - and some in Madrid so minus the film studio - has anyone heard the rest of their plans - they don't really have staff to merge or replace us - maybe they plan to sell or close down parts ? same with their plans for streaming ?
@e3 Hopefully they get rid of some of Presidents who make 6-7Million, some EVPs who are at 1-3M vs 1000's of mid levels....
They'll just pay the $25 million Trump wants and let Skydance handle the resulting political fallout.
They already pay each of the 3 CEOs $20 million a piece, so a one time payout of $25 million for the deal to go through will likely happen. Probably big layoffs afterwards. It's a hot mess for sure.
@cp+1 Agree. Sadly, if deal doesn't go through, would not be surprised if org is sold off for parts.
@bn If the deal doesn't happen, Paramount is finished. Redstone wants out, so she will just sell off parts of the business.
Merger might not happen. News just said they are filling up the board because it wasn’t previously full but should be if no deal. Trump rejected 15mm settlement so this may drag on and then die. If no deal then sale for parts and way more layoffs than would happen w merger
It will smaller this time with bigger cuts coming once the merger happens. I have heard merger +60 or +90 days so not sure which one it is. Those will be much bigger that what’s happening in June.
Certain groups will be hit harder than others but will definitely be company wide. I just wish we knew the extent of it, last summer we knew it was 15% of the company, but this time around ….?
Just echoing what the previous commenter said. I too think it’s across the company.My bosses were real sketchy when I asked if they knew anything about the layoffs. previously, during the last round, they were more secure in how our department would fare and were more positive. They did just move community day to the fall too so that aligns with a previous comment someone made about the timing for the layoffs.
previous posts mentioned streaming and cable specifically
anyone hear about TV productions or CBS?
Across the organization, is my understanding