News Summary

• CBS parent company Paramount Skydance, the newly merged entertainment giant, will cut around 1,000 jobs this week, according to multiple reports.
• The cuts, expected mostly across U.S. divisions, mark the beginning of a restructuring that could reportedly see as many as 2,000 staff let go overall.
• International divisions are also expected to see layoffs in the coming weeks.
• The reductions mark the first major restructuring since the company’s $8.4 billion merger with Skydances closed in August.