Skydance, Paramount
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The firings mark the first major restructuring since Skydance Media completed its $8.4 billion merger with Paramount Global in August.
Paramount Skydance is laying off about 10% of its workforce, achieving some of the cost savings that CEO David Ellison promised investors when he took charge of the media company over the summer.
Paramount Skydance has just signed a 10-year lease for Bayonne’s 1888 Studios. Paramount is set to occupy more than 285,000 square feet of the planned 58-acre facility, which will have 1.1 million square feet of production space and 23 smart sound stages.