Skydance Co-CEO Says Layoffs Will Be Managed With Care as Company Reorganizes
Skydance co-CEO Ynon Kreiz said a planned $6 billion in cost savings will come from areas including technology, consolidated marketing, real estate efficiencies, and some staff reductions. He noted that layoffs will not make up most of the savings but will be part of the merger synergies. Kreiz described the effort as a broader reinvention of how the company operates, aiming to build a standout business, and said the process will be handled with respect and transparency.
Skydance co-CEO Ynon Kreiz said on CNBC that the $6 billion in planned savings will draw on technology, consolidated marketing, real estate efficiencies, and some staff cuts, though he noted labor accounts for less than half. He appeared alongside chairman and CEO David Ellison.
The merger of Paramount and Warner Bros. Discovery closed Tuesday, forming the combined company now known as Skydance. Executives aim to reach the $6 billion target by the end of 2028, and the co-CEOs suggested the figure could end up larger.
The reorganization could reshape employment across the combined studio's workforce, with staff in overlapping marketing, technology, and real estate functions among those potentially affected. Kreiz's emphasis on transparency may shape how employees and industry observers judge the merger's handling. Beyond the company, consolidation of this scale could influence how much content reaches audiences and how rival studios position themselves, though the full effects may take years to become clear.