Got to know today that VP's were notified with getting the list of people with 10% reduction target across each verticals of streaming.
These layoff would be announced by late November or Early December.
Also layoff would be global regardless of location.
They need to purge and layoff the SVP, VP and Director layer as there is the cost savings and removal of old blood. These people are not the future and dinosaurs.
@js thank you. Finally, someone said the quiet part out loud. I know this is not going to be a popular opinion on this board, where people with complete lack of self-awareness can’t comprehend how much they truly su-k. Even after DE openly said so from the stage. He said - there will be very minimal job reductions, but he didn’t say that there will be minimal layoffs. Just try to think, everybody - what could that possibly mean? Think, how can we compete with the likes of Netflix? Is it by keeping everyone around who’s been making this company anything BUT Netflix? Can anybody here, in a good faith, claim that any person who was laid off in the past or will be laid off now, would qualify for a position at Netflix? Think very hard on this one everybody.
@gn out with the old and in with the new. The bar for new talent seems to be much higher, but the pay isn’t changing… Something has to give, even in this market.
I dont understand this on one side they are sending VBO and on other side i see hiring i see new folks joining
@ew I expect you to post your apology here in early December.
@fa 50% wouldn't surprise me
@OP Whoever told you 10% is delusional. Think 30-40%! Seriously! 10% was a Viacom/Para layoff on a good day.
@ew That post was another example of the recurring satire that appears in this threads. Zero people actually feel that way. Even DE himself doesn't believe his own statements at this point.
@ej I don’t know I wish they would rip the bandaid off already. The waiting su-ks.
At least its not before Thanksgiving... let the people have that...
@OP DE is giving Skydance employees a shot at a new American Dream, and you think he'll lay people off right before Thanksgiving, one of the most important holidays? I don't think so.
February
@aj Paramount or Max?
they stopped doing warn notices last couple years - they just pay out the warn days - then it posts later
my vp is very close with their svp so could be more that relationship than an official mtg
not in tech or the app - not going to share more but our major leadership is no longer with the company
and after thanksgiving would go into early december date so could be accurate
@b1 There will not be a WARN filed before any rounds of layoffs. It will show up the week of or after. They supposed WARN days (60 or 90) will be concurrent with severance days
wouldn't they try align the layoffs with the 4th dec date for VBO exits.
@b1 yes in LA they usually don’t do the warn notice. They pay you severance to get around the warn notice.
@OP Does that mean if your VP didn't get a notice, you're safe for now? Or was it just specific teams?
Does it include contractors?
@aj I don't see the WARN filed for this. Can they do this without filing WARN?
I have no information. But layoffs in Ad Sales in 2022 and 2023 were both the week before Thanksgiving. I can’t remember about 2024.
Streaming as in under DG? Does anyone have specifics? Tech, content, which part of streaming?
today - my vp agrees november
could not tell me before after thanksgiving just not the week of .. before is next week so prob not unless these lists have been made
thinks some streaming will be way more than 10 percent .. like whole teams cut .. doesn't even know if their job or the teams is safe and they don't care about VBO numbers as related - just an extra bonus
non tech side
Where's my gift card, bruh?