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Paramount Skydance Stock Rises on $2B Cost-Cutting Plan

Paramount Skydance Stock Rises on $2B Cost-Cutting Plan

Author:

Global Cryptocurrency

Published:

2025-10-20 22:13:02

20

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BTCCSquare news:

Paramount Skydance (PSKY) shares climbed 1.3% to $16.99 after announcing a $2 billion annual cost-reduction strategy. The plan includes 2,000 U.S. job cuts and additional international layoffs, with over half the savings realized within the first year. Investors interpreted the MOVE as a sign of financial discipline following Skydance Media's takeover of Paramount Global.

CEO David Ellison's restructuring aims to streamline operations across film, television, and streaming divisions. While painful for employees, the market response reflects confidence in the company's path to profitability. The cuts represent 7% of the combined cost base, signaling aggressive operational consolidation.

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