Skydance CEOs acknowledge coming layoffs after Paramount–Warner Bros. merger

Variety reports that Skydance CEOs David Ellison and Ynon Kreiz acknowledged coming layoffs in a memo after the Paramount–Warner Bros. merger closed. Executives are targeting more than $6 billion in annualized cost savings over three years, partly through layoffs, but have not specified how many jobs they expect to cut. Variety cites a Los Angeles County report saying the merger could cost some 4,500 film and TV jobs in L.A. over three years.