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Paramount Skydance to Cut Jobs Amid Q3 Earnings Release
ByAinvest
Friday, Aug 22, 2025 4:11 pm ET1min read
Paramount Skydance (PSKY) plans significant layoffs in November, coinciding with its Q3 earnings report. Analysts predict an average price target of $11.58, indicating a potential downside from the current price. The current brokerage recommendation for PSKY is a "Hold" with a score of 3.4. The layoffs are part of a broader strategic realignment initiated by new management to stabilize operations and prevent future job cuts.
Paramount Skydance (PSKY), the newly formed media conglomerate following the merger of Skydance Media and Paramount Global, has announced significant layoffs scheduled for early November. The job cuts are part of a broader strategic realignment aimed at stabilizing operations and preventing future job losses [2]. The layoffs coincide with the company's Q3 earnings report, which is expected to be released soon.Analysts have set an average price target of $11.58 for PSKY, indicating a potential downside from the current price. The current brokerage recommendation for PSKY is a "Hold" with a score of 3.4 [3]. The upcoming layoffs are part of a cost-saving initiative that aims to reduce expenses by more than $2 billion at the media conglomerate [2].
The new management, led by Jeff Shell, has instructed managers across the company's divisions to prepare lists of employees to be terminated. These lists are expected to be submitted to company leadership in October, with the layoffs scheduled to begin in early November. One insider described the upcoming staff reductions as an "epic 'bloodbath'" [2].
The layoffs come as part of the integration process following the merger. The new company, "Paramount, a Skydance Corporation," is the parent company to a variety of media and entertainment assets, including CBS, Comedy Central, MTV, Paramount Plus, and an iconic movie studio [1].
References:
[1] https://www.foxnews.com/media/top-democrats-peeved-over-8b-paramount-skydance-merger-citing-trump-influence
[2] https://www.investing.com/news/stock-market-news/paramount-plans-november-layoffs-in-2-billion-costcutting-move--nyp-93CH-4207392
[3] https://www.marketbeat.com/instant-alerts/guggenheim-begins-coverage-on-paramount-global-nasdaqpsky-2025-08-13/
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