Paramount Undergoes Layoffs as David Ellison Says Studio Is Refocusing on ‘Evolving Priorities’

Another day, another massive corporate bloodbath in Hollywood. Not good. This time, it’s Paramount wielding the axe, and they’re not messing around. The entertainment giant, who is merging with Skydance, just started swinging that pink slip sword, cutting 1,000 to 2,000 jobs faster than you can say “corporate restructuring.” We all (probably) saw this coming from a mile away.

The Carnage Begins: 1,000 Down, 1,000 to Go

Let’s cut through the corporate speak and get down to the truth here. Paramount kicked off their layoff spree on Wednesday, showing 1,000 employees the door in what can only be described as a Hollywood horror story. Another 1,000 unfortunate souls are still waiting for the other shoe to drop. That’s right – this is only round one of what’s shaping up to be the entertainment industry’s latest nightmare.

According to Forbes, David Ellison is the mega-rich guy who just bought this whole circus for a cool $8 billion. He’s the son of Larry Ellison, cofounder of Oracle. The younger Ellison sent out one of those classic “this hurts us more than it hurts you” memos. Sure. Because nothing says empathy like firing 10% of your workforce while sitting on a Para-mountain of cash, right? Right. 

Why Paramount’s Playing Judge, Jury, and Executioner

Here’s where it gets interesting (and by interesting, we mean infuriating). Ellison and the Barrett Media crew are calling this “building a strong foundation for the future.” Translation? They need to squeeze out $2 billion in expenses, and guess what’s the easiest target? That’s right – human beings with mortgages and families, among other expenses.

The company is supposedly “addressing redundancies” and “phasing out roles no longer aligned with evolving priorities.” Corporate buzzword bingo, anyone? What they really mean is: “We bought this company, and now we need to make the numbers work on our spreadsheets.”

CBS News Gets Gutted Like a Fish

The bloodletting wasn’t random, either. Paramount went after CBS News with particular vengeance, axing about 100 people and pulling the plug on digital newscasts faster than you could change the channel. They even shuttered their Johannesburg bureau and their race and culture reporting unit. Because who needs diversity in news coverage?

“CBS Saturday Morning” co-hosts Michelle Miller and Dana Jacobson? Gone. Executive producer Brian Applegate? Also gone. It’s like sadly watching someone systematically dismantle a news operation piece by piece, and it’s absolutely brutal to witness.

The Ultimate Corporate Double Standard

But here’s the kicker that’ll make your blood boil: while Paramount is busy destroying thousands of livelihoods, Ellison is simultaneously throwing money around like he’s on a hot streak at a Vegas casino. We’re talking $7.7 billion for UFC rights and $1.25 billion to keep “South Park” running. Oh, and let’s not forget the $58 billion bid they’re apparently making for Warner Bros. Discovery.

So let’s get this straight – you can afford to spend nearly $8 billion on fight footage and cartoon characters, but you can’t afford to keep nearly 2,000 people employed? The math ain’t mathing, David.

This Isn’t Paramount’s First Rodeo

If you think this is shocking, you haven’t been paying checking the history. Paramount already axed 800 people in June, before Ellison even officially took the reins. And throughout 2024? They eliminated another estimated 2,000 positions. That’s 15% of their entire staff. At this point, working at Paramount is like playing musical chairs, except every round, they remove half the chairs.

The Writing Was on the Wall

Industry insiders have been whispering about these cuts for months. When you complete an $8 billion merger, somebody’s got to pay – and it’s never the executives counting their golden parachutes. It’s always the rank-and-file employees who actually make the content we love.

President Jeff Shell even told reporters back in August that they’d be making cuts “as swiftly as possible” rather than dragging it out. At least they’re efficient in their ruthlessness.

The harsh reality is that this is just how Hollywood operates now. Mega-mergers followed by mass layoffs have become as predictable as superhero movie sequels. Paramount’s latest move is just another chapter in the ongoing saga of corporate consolidation crushing human dreams.