David Ellison and Ynon Kreiz say there will be 'difficult decisions that affect our workforce'
\n\nParamount Skydance and Warner Bros. Discovery have officially merged into Skydance Corp. And the top leaders have notified the new company’s staffers that layoffs are in the offing.
\n\nDavid Ellison, chairman and CEO, and co-CEO Ynon Kreiz (formerly chief exec of Mattel) sent a memo to employees at the combined company Tuesday morning around 9:40 a.m. ET after the deal closed outlining the operating philosophy of Skydance — and its goals in the years ahead.
\n\nThe duo acknowledged that layoffs will be part of the process. “Integrating two companies will bring change, including difficult decisions that affect our workforce,” the execs wrote in the memo, a copy of which was obtained by Variety. “We are committed to handling this process thoughtfully and respectfully.”
\n\nEllison and Kreiz also wrote that as the new Skydance works toward its goals, “we must never lose sight of what matters most: our people. We will build a culture where people feel respected, empowered, supported and proud of the work they do.”
\n\nParamount execs have said they are shooting to achieve more than $6 billion in annualized cost savings over three…
Original source: https://variety.com/